-Refer to the above figure. What are the price and quantity if this monopolist is required to use average cost pricing?

Name: -Refer to the above figure. What are the price and quantity if this monopolist is required to use average cost pricing?
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Question

Quizplus · Accepted Answer

Average cost pricing means setting the price equal to the average cost at that quantity. In the figure, P3 corresponds to the point where the price equals the average cost (AC), leading to a quantity of Q3.

-Refer to the Above Figure