The Following Figure Shows the Revenue and Cost Curves of a Monopolist.Figure

Multiple Choice

The following figure shows the revenue and cost curves of a monopolist.Figure 11.3
D: Average Revenue
MR: Marginal Revenue
ATC: Average Total Cost
MC: marginal Cost
-Consider the monopolist described in Figure 11.3. If the firm engages in profit-maximizing behavior, what price will it charge?

A) P₁
B) P₂
C) P₃
D) P₄
E) P₅