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lambchop03 lambchop03
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5 years ago Edited: 5 years ago, bio_man
Figure 15-3



Figure 15-3 above shows the demand and cost curves facing a monopolist.


Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit-maximizing/loss-minimizing output level?

• 630 units

• 800 units

• 850 units

• 880 units
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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kirakira15kirakira15
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5 years ago
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lambchop03 Author
wrote...
#2
5 years ago
You make an excellent tutor!
¯\_(ツ)_/¯
wrote...
#3
5 years ago Edited: 5 years ago, bio_man
Figure 15-3



Figure 15-3 above shows the demand and cost curves facing a monopolist.


Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the price charged at the profit-maximizing/loss-minimizing output level?

• $38

• $54

• $68

• $75
wrote...
#4
5 years ago
$68
wrote...
#5
5 years ago Edited: 5 years ago, bio_man
Figure 15-3



Figure 15-3 above shows the demand and cost curves facing a monopolist.


Refer to Figure 15-3. Suppose the monopolist represented in the diagram above produces positive output. What is the profit/loss per unit?

• loss of $7 per unit

• profit of $30 per unit

• loss of $21 per unit

• profit of $14 per unit
wrote...
#6
5 years ago
loss of $7 per unit
wrote...
#7
5 years ago
You make an excellent tutor!
wrote...
#8
5 years ago Edited: 5 years ago, bio_man
Figure 15-3



Figure 15-3 above shows the demand and cost curves facing a monopolist.


Refer to Figure 15-3. What happens to the monopolist represented in the diagram in the long run, if costs and demand stay the same?

• It will raise its price at least until it breaks even.

• If the cost and demand curves remain the same, it will exit the market.

• The government will subsidize the monopoly to enable it to break even.

• It will be forced out of business by more efficient producers.
wrote...
#9
5 years ago
If the cost and demand curves remain the same, it will exit the market.
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