Exhibit 9.3

-Refer to Exhibit 9.3,which shows the cost and revenue curves for a non-price discriminating monopolist.At the profit-maximizing output,the non-price discriminating monopolist is earning a profit of _____

Question

Exhibit 9.3
 
-Refer to Exhibit 9.3,which shows the cost and revenue curves for a non-price discriminating monopolist.At the profit-maximizing output,the non-price discriminating monopolist is earning a profit of _____

Quizplus · Accepted Answer

The profit-maximizing output for a non-price discriminating monopolist is determined where marginal cost (MC) equals marginal revenue (MR). At this point, the difference between total revenue (TR) and total cost (TC) represents the profit. Without seeing Exhibit 9.3, the correct answer cannot be directly identified from the question's details alone. However, based on standard economic theory, the profit is the area between the TR and TC curves at the profit-maximizing quantity. Since I cannot see Exhibit 9.3, the answer provided is based on the assumption that you have identified choice C ($11,000) as the correct profit amount using the information from the exhibit.

Exhibit 9.3 -Refer to Exhibit 9.3,which Shows the Cost and Revenue Curves