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Question 195

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Use the following to answer questions: Use the following to answer questions: -(Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo baseball hats. The Saints sell at most one hat to each customer, and the table shows each customer's willingness to pay. The marginal cost of producing a hat is $18, and there are no fixed costs. How much is the Saints' profit at the profit-maximizing output? A) $24 B) $18 C) $12 D) $30
-(Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo baseball hats. The Saints sell at most one hat to each customer, and the table shows each customer's willingness to pay. The marginal cost of producing a hat is $18, and there are no fixed costs. How much is the Saints' profit at the profit-maximizing output?


A) $24
B) $18
C) $12
D) $30

Correct Answer:

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