Suppose a monopolist's costs and revenues are as follows: ATC = $50; MC = $45; MR = $35; P = $55. The firm should
A) increase output and decrease price.
B) decrease output and increase price.
C) not change output or price.
D) shut down.
Answer: B
Economics
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A) more elastic; less elastic B) more elastic; more elastic C) less elastic; more elastic D) less elastic; less elastic
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A leading variable ________
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Economics