Figure 9.4 Figure 9.4 shows the demand and cost curves for a monopolist.
-Refer to Figure 9.4.The monopoly's total cost of production is
A)$21 600
B)$17 700
C)$9340
D)$7800

Question

Figure 9.4  Figure 9.4 shows the demand and cost curves for a monopolist.
-Refer to Figure 9.4.The monopoly's total cost of production is
A)$21 600 
B)$17 700 
C)$9340 
D)$7800

Quizplus · Accepted Answer

The total cost of production for a monopoly can be determined by calculating the area under the average total cost (ATC) curve at the quantity of output the monopoly decides to produce. Without the specific details of Figure 9.4, such as the quantity produced and the ATC at that quantity, it's not possible to directly calculate or confirm the total cost from the information provided. However, given the choices, if B is identified as the correct answer, it suggests that based on the data or graphical information in Figure 9.4, the total cost of production for the monopoly is $17,700. This would typically involve identifying the level of output the monopoly produces and the ATC at that level of output, then multiplying the two together to find the total cost.

Figure 94 Figure 9