On a monopoly diagram showing demand, marginal revenue, marginal cost, and average total cost, which of the following cannot be illustrated?
A)Marginal cost
B)Market price
C)Total costs
D)Market output
E)Fixed costs

Question

Quizplus · Accepted Answer

A monopoly diagram can illustrate demand, marginal revenue, marginal cost, and average total cost because they are all related to revenue and cost. However, fixed costs are not illustrated on the diagram because they do not change with output level.

On a Monopoly Diagram Showing Demand, Marginal Revenue, Marginal Cost