Multiple Choice
The data below relate to a pure monopolist and the product it produces.What is the profit-maximizing output and price for this monopolist? 
A) P = $12;Q = 5
B) P = $14;Q = 4
C) P = $16;Q = 3
D) P = $18;Q = 2
To maximize profit,the monopolist sets MC equal to or less than MR.This occurs at Q = 4,where MC = $7 .
Correct Answer:
Verified
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