In the figure above:
A) triangle ABC represents the welfare loss to the society because of the monopoly in the market.
B) if the firm is producing an amount QC (point C) ,it is maximizing profit because MC = AC at that point.
C) point B,where MR = MC,represents the point where the difference between total revenue and total cost is the largest.
D) point A,where MR = AC,represents the point where the difference between total revenue and total cost is the largest.
Correct Answer:
Verified
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A) maximize MR.
B) are price takers.
C)
A)
