Multiple Choice
A monopolist sells 2,000 units for $20 each. The total cost of producing 2,000 units is $30,000. If the price falls to $19, the number of units sold increases to 2,100. The total cost of producing 2,100 units is $30,075. Total profits at 2,000 units of output and a price of $20 are
A) $30,000.
B) $20,000.
C) $10,000.
D) $0 in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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