Answered

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A monopolist's profit-maximizing price and output correspond to the point on a graph:

A) where total costs are the smallest relative to price

B) where average total cost is minimized

C) where price is as high as possible

D) where marginal revenue equals marginal cost and charging the price on the market demand curve for that output

Sagot :

The profit-maximizing price and output of a monopolist correspond to the point on a graph where marginal revenue equals marginal cost and charging the market demand curve price for that output.

A monopolist is an individual, group, or company that dominates and controls a specific market for a good or service. Because there is no competition and no substitute goods or services, the monopolist has enough market power to charge high prices.

When there is only one seller in the market, a monopoly develops. The monopoly case is considered the polar opposite of perfect competition in conventional economic analysis.

Hence, the correct answer is "D".

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