Given the same cost and revenue schedules, a profit-maximizing monopol

1.	Given the same cost and revenue schedules, a profit-maximizing monopolist will producea)Output that cannot be determinedb)Less output than a competitive industryc)The same amount of output as a competitive industryd)More output than a competitive industry
Answer» ANSWER: For the question asked at hand the answer is the option, b)Less output than a competitive industry. Explanation: This is so because a monopolistic firm processes with the functioning of being the only one to decide what market rate will be SET for the price as WELL as the output. There is no one ELSE in the market to determine these FACTORS. And in this case the answer is B.

Given the same cost and revenue schedules, a profit-maximizing monopolist will producea)Output that cannot be determinedb)Less output than a competitive industryc)The same amount of output as a competitive industryd)More output than a competitive industry

Answer»

For the question asked at hand the answer is the option, b)Less output than a competitive industry.

Explanation:

This is so because a monopolistic firm processes with the functioning of being the only one to decide what market rate will be SET for the price as WELL as the output. There is no one ELSE in the market to determine these FACTORS.

And in this case the answer is B.

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Given the same cost and revenue schedules, a profit-maximizing monopolist will producea)Output that cannot be determinedb)Less output than a competitive industryc)The same amount of output as a competitive industryd)More output than a competitive industry

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