Figure 14-4 -Refer to Figure 14-4.A profit-maximizing monopoly's total revenue is equal to A) P4 x Q3. B) P5 x Q1. C) P3 x Q4. D) (P4-P2)x Q3.

Name: Figure 14-4 -Refer to Figure 14-4.A profit-maximizing monopoly's total revenue is equal to A) P4 x Q3. B) P5 x Q1. C) P3 x Q4. D) (P4-P2)x Q3.
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The profit-maximizing monopoly will produce at the output level where marginal revenue equals marginal cost. This is at point Q3 on the demand curve. The total revenue at this output level is equal to P4 x Q3.

Figure 14-4 -Refer to Figure 14-4.A Profit-Maximizing Monopoly's Total Revenue Is Equal