Use the following table to answer the question : Table 15-1: shows the marginal cost [MC],marginal revenue [FH],and demand [FG] curves for a monopolist who faces constant costs.
Figure 15-1
-Refer to Figure 15-1.The monopolist produces output equal to _____ in equilibrium.

Question

Use the following table to answer the question : Table 15-1: shows the marginal cost [MC],marginal revenue [FH],and demand [FG] curves for a monopolist who faces constant costs.
Figure 15-1

-Refer to Figure 15-1.The monopolist produces output equal to _____ in equilibrium.

Quizplus · Accepted Answer

A monopolist produces where marginal revenue (MR) equals marginal cost (MC). Without seeing Figure 15-1, the correct answer cannot be determined visually, but based on standard economic theory, the equilibrium output level is where MR=MC.

Use the Following Table to Answer the Question : Table