The amount of output a firm can produce with a given quantity of fixed and variable inputs is called:

To graph a relationship that involves more than two variables, we use the "ceteris paribus" assumption

Indicate whether the statement is true or false

In the above figure, for a single-price monopolist producing at its profit-maximizing equilibrium price and quantity, the price elasticity of demand at this equilibrium will be

A) greater than 1 and the monopolist's total revenue is maximized. B) less than 1 and the monopolist's economic profit could be larger. C) equal to 1 and the monopolist's total revenue is maximized. D) greater than 1 and the economic profit is maximized but the total revenue is not.