Table 14-11
The following table shows quantity,price,and marginal cost information for a monopoly:

-Refer to Table 14-11.What would be the firm's marginal revenue at the profit-maximizing level of output?
A) $7
B) $6
C) $5
D) $1

Question

Table 14-11
The following table shows quantity,price,and marginal cost information for a monopoly:
 
-Refer to Table 14-11.What would be the firm's marginal revenue at the profit-maximizing level of output?
A) $7 
B) $6 
C) $5 
D) $1

Quizplus · Accepted Answer

At the profit-maximizing level of output, marginal revenue equals marginal cost. If the table indicates that the marginal cost is $5 at the profit-maximizing output, then the marginal revenue must also be $5.

Table 14-11 the Following Table Shows Quantity,price,and Marginal Cost Information for a for a Monopoly