Table 15-13
The following table gives information on the price, quantity, and total cost of production for a monopolist.

-Refer to Table 15-13. If the monopolist maximizes profits, he will charge a price of

Question

Table 15-13
The following table gives information on the price, quantity, and total cost of production for a monopolist.
 
-Refer to Table 15-13. If the monopolist maximizes profits, he will charge a price of

Quizplus · Accepted Answer

The monopolist will charge a price of $3 because this is the price that maximizes profits. At this price, the monopolist is able to sell 5 units of output and earn a profit of $10.

Table 15-13 the Following Table Gives Information on the Price, Quantity, and Quantity