Question: 6.Suppose a monopolist faces a demand equation given by P=20-Q, and a marginal revenue equation given by MR = 20-2Q, and MC=AVC=ATC=$6. What is the
6.Suppose a monopolist faces a demand equation given by P=20-Q, and a marginal revenue equation given by MR = 20-2Q, and MC=AVC=ATC=$6. What is the profit-maximizing price for the monopolist?
A)$13
B)$2
C)$6
D)$1
Continue with question 6: What is the profit-maximizing quantity for the monopolist?
A)20
B)7
C)14
D)22
If a monopolist sells 10 units of output for $7 each and 11 units of output at $6 each, what is the marginal revenue associated with the 11th unit?
A)$6
B)$4
C)-$4
D)-$6
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