Multiple Choice
A monopoly is producing a level of output at which price is $80,marginal revenue is $40,average total cost is $100,marginal cost is $40,and average fixed cost is $10.In order to maximize profit,the firm should
A) produce more.
B) keep output the same.
C) produce less.
D) shut down.
Correct Answer:
Verified
Correct Answer:
Verified
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