If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopo

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lilavasa [31]

2 years ago

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If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopo

list should ________ to maximize profits.

Business

1 answer:

MatroZZZ [7] · Answer 1 · 2023-09-23T06:42:13+03:00

If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production and increase the price to maximize profits.

<h3>Who is a monopolist?</h3>

monopolist serves as the entity that dominates a particular market in term of production, he is the one that has the highest control of the market and make the most profits.

It should be noted that If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production .

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