A monopolist produces and sells 400 units at a price of $40 per unit. The monopolist's marginal cost is equal to $15 and average cost is equal to $23. The monopolist's profit is:
A) $6,800.
B) $8,000.
C) $10,000.
D) $16,000.
E) None of these are correct.
Correct Answer:
Verified
Q2: The following figure shows the demand curve
Q3: The following figure shows the demand curve
Q4: Which of the following is a characteristic
Q5: Which of the following is true of
Q6: The following figure shows the demand curve
Q7: Which of the following is a criticism
Q8: Which of the following is true of
Q9: Industry demand is given by P =
Q10: A monopolist maximizes profit by producing:
A) on
Q11: A market is considered a pure monopoly
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