Question

You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why? a) Average total cost, b) average fixed cost, c) average variable cost, d) marginal cost, e) demand, and f) marginal revenue.

Answer 1

Pie

Answer 2

D Marginal Cost