A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. What is the firm's total revenue?
A) $38
B) $285
C) $570
D) $19
E) There is not enough information given to answer the question.
C
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Which of the following is true?
a. Uncertainty accompanies investment decisions. b. At any given time, there are a virtually infinite number of potential investment projects that might be undertaken by investors. c. In order to be successful, entrepreneurs must be good at recognizing and undertaking economically beneficial projects. d. All of the above are correct.
Assume that the economy initially has a price level of P1 and output level Q1. If the government implements expansionary fiscal policy, and the full multiplier effect was felt, it would bring the economy to:
Refer to the graph above.
A. P2 and Q4
B. P1 and Q1
C. P2 and Q2
D. P1 and Q3