Take Home Monopoly Quiz- Complete and then take the D2L Quiz- Due 11/9 $42 $40 $30 $22 $18 $15 MR 200 280 300 500 D MC ATC AVC What is the profit-maximizing level of output this monopolist should produce? a. 200 b. 280 c. 300 d. 500 What price will they charge? a. $15 b. $18 C. $22 d. $30 e. $40 f. $42 What are their profits at this point? In the quiz, you MUST type in $ format, like $1000 or $1000.00 or $1,000 or $1,000.00 Should the monopolist stay open or shut down in the short run? Why a. Stay open; profits are positive b. Stay open; profits are negative but price > AVC c. Shut down; profits are negative d. Shut down; profits are less than AVC What is the short-run shut down price for this monopolist? a. Unable to determine b. Any price less than $15 c. Any price less than $18 d. Any price less than $30