A monopolist faces an average total cost of $6 when it produces 200 units of its product. If it sells the 200 units at $8 per unit, ________
A) the monopolist incurs a loss of $200
B) the monopolist incurs a loss of $400
C) the monopolist makes a profit of $200
D) the monopolist makes a profit of $400
D
Economics
You might also like to view...
Who loses and who gains from the minimum wage?
A) Losers are all workers and gainers are all firms. B) Losers are all firms and gainers are all workers. C) Losers are all firms and some workers, while gainers are other workers. D) Gainers are some firms and all workers, while losers are some firms. E) Gainers are some firms and some workers, while losers are other firms and other workers.
Economics
If the demand for a good is determined to be "unit elastic," then the elasticity measure
A) is greater than 1.0. B) is equal to 1.0. C) is less than 1.0. D) is infinite.
Economics