Multiple Choice
Use the following to answer question:
Figure: The Profit-Maximizing Output and Price
-(Figure: The Profit-Maximizing Output and Price) Use Figure: The Profit-Maximizing Output and Price.Assume there are no fixed costs and AC = MC.At the profit-maximizing quantity of production for the monopolist,total revenue is _____,total cost is _____,and profit is _____.
A) $600;$200;$400
B) $1,600;$3,200;$1,600
C) $4,800;$3,200;$1,600
D) $4,800;$1,600;$3,200
Correct Answer:

Verified
Correct Answer:
Verified
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