A. adjusting both price and output upward
B. reducing total output to match price
C. increasing price
D. reducing price
Correct Answer:
Option B – reducing total output to match price
Explanation
A monopolist can determine its profit-maximizing price and quantity by analyzing the marginal revenue and marginal costs of producing an extra unit. If the marginal revenue exceeds the marginal cost, then the firm can increase profit by producing one more unit of output
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