Multiple Choice
Scenario 15-3
A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30, its average revenue is $60, and its average total cost is $34.
-Refer to Scenario 15-3. At Q = 500, the firm's marginal cost is
A) less than $30.
B) $30.
C) $34.
D) greater than $34.
Correct Answer:
Verified
Correct Answer:
Verified
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