A monopolist is producing at an output level at which ATC = $5, P = $6, MC = $4, and MR = $3. We can conclude that
A) economic profit could be increased by producing more.
B) economic profit could be increased by producing less.
C) economic profit cannot be increased.
D) the firm is earning $10 in economic profits.
B
Economics
You might also like to view...
With the full implementation of the Single European Act, the EU became a
A) common market. B) free trade area. C) customs union. D) economic union. E) None of the above.
Economics
The functions of money are to serve as a:
Determinant of consumption, investment, and government spending Resource allocator, method for accounting, and means of income distribution Factor of production, exchange, and aggregate supply Unit of account, store of value, and medium of exchange
Economics