Figure 15-4
-Refer to Figure 15-4. Profit can always be increased by increasing the level of output by one unit if the monopolist is currently operating at i) Q1.
Ii) Q2.
Iii) Q3.
Iv) Q4.
A) ii) only
B) i) or ii) only
C) i) only
D) i), ii), or iii) only

Question

Figure 15-4 
-Refer to Figure 15-4. Profit can always be increased by increasing the level of output by one unit if the monopolist is currently operating at i) Q1.
Ii) Q2.
Iii) Q3.
Iv) Q4.
A) ii) only 
B) i) or ii) only 
C) i) only 
D) i), ii), or iii) only

Quizplus · Accepted Answer

Profit can be increased by increasing the level of output by one unit if the monopolist is currently operating at Q1 or Q2. At Q3 and Q4, an increase in output by one unit would lead to a decrease in profit. Therefore, the best choice is either i) or ii) only.

Figure 15-4 -Refer to Figure 15-4. Profit Can Always Be Increased by Be