Refer to the information provided in Table 13.4 below to answer the question(s) that follow.
Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $12 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $10; 6
B. $16; 3
C. $12; 5
D. $14; 4
Answer: B
Economics
You might also like to view...
Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example of
A) an explicit cost to the business. B) an implicit cost to the business. C) financial capital. D) interest.
Economics
In the market for a foreign currency, the curve that represents the "willingness of those who have foreign currency to trade them for the U.S. dollar" is the
A. demand curve. B. equilibrium curve. C. price curve. D. supply curve.
Economics