Multiple Choice
If a monopolist that is maximizing its profits charges a price of $16, has an average total cost of $10 and a marginal cost of $8, and sells 50 units of output, then its marginal revenue is _____, and its profit is:
A) $16; $300.
B) $8; $300.
C) $16; $400.
D) $8; $400.
Correct Answer:
Verified
Correct Answer:
Verified
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