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Subject - Economics:

Microeconomics

MCQ - 148-4158

Question:

5 -31668784
If this firm were a profit-maximizing monopolist, the price, output, and profit would

  1. PRICE: P5, OUTPUT: Q1, PROFIT: Q1 X ( c-b)
  2. PRICE: P5, OUTPUT: Q1, PROFIT: Q1 X P1
  3. PRICE: P5, OUTPUT: Q2, PROFIT: Q2 X (P4-P1)
  4. PRICE: P5, OUTPUT: Q1, PROFIT: Q1 X P1
  5. PRICE: P3, OUTPUT: Q3, PROFIT: Q3 XP3

Correct Answer: A

Explanation:

Find the output level where MR = MC and locate the price from the demand curve. Profit is equal to Q × (P – ATC) at that output.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: If this firm were a profit-maximizing monopolist, the price, output, and profit would , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 148-4158.

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