Which of the following will be the best example of a monopoly firm?

Suppose the Busy Bee Café is the monopoly producer of hamburgers in Hugo, Oklahoma. The above figure represents the demand, marginal revenue, and marginal cost curves for this establishment

What price will the Busy Bee charge to maximize its profit? A) $5.00 for a hamburger B) $3.00 for a hamburger C) $2.00 for a hamburger D) $1.00 for a hamburger E) $4.00 for a hamburger

Boeing and Airbus have entered into a cartel agreement that will enable them to boost their profits. What occurs if Boeing decides to cheat on the agreement?

i. Boeing lowers the price of its airplanes. ii. The total industry output increases. iii. The total profits in the airplane industry will decrease. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii