Figure 7.1:
-In Figure 7.1,at the profit maximizing level of output for a monopolist,marginal cost is:

Name: Figure 7.1: -In Figure 7.1,at the profit maximizing level of output for a monopolist,marginal cost is:
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Question

Figure 7.1:  
-In Figure 7.1,at the profit maximizing level of output for a monopolist,marginal cost is:

Quizplus · Accepted Answer

At the profit-maximizing level of output for a monopolist, marginal cost is equal to marginal revenue. In Figure 7.1, marginal revenue is $5.00 at the profit-maximizing level of output.