Ch13_Practice_Problems

Price quantity average total cost 24 0 18 5

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Unformatted text preview: ecrease. Figure 2 11. Refer to Figure 2. In order to maximize profits, the monopolist should produce a. 9 units. b. 12 units. c. 15 units. d. more than 15 units. 12. Refer to Figure 2. In order to maximize profits, the monopolist should charge a price of a. $9. b. $12. c. $20. d. $23. 13. Refer to Figure 2. A profit- maximizing monopolist would earn total revenues of a. $81. b. $144. c. $225. d. $240. 14. Refer to Figure 2. A profit- maximizing monopolist would incur total costs of a. $81. b. $120. c. $144. d. $240. 15. Refer to Figure 2. A profit- maximizing monopolist would earn profits of a. $96. b. $117. c. $120. d. $126. Table 1 The following table provides information on the price, quantity, and average total cost for a monopoly. Price Quantity Average Total...
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