A profit maximizing monopoly's total revenue is equal to; (P₃ - P₀) * Q₂
<h3>How to interpret Monopoly Curve?</h3>
Pure monopoly can raise the market price indefinitely due to the fact that the market structure is characterized by a single seller or manufacturer, selling a particular product in the market.
In a pure monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. He enjoys the power of setting the price for his goods. This in-turn leads to the customers being at the mercy of the seller.
In the attached image which shows the cost and revenue structure for a Monopoly Firm Cost And Revenue($) and we see that, curve A is the demand curve, Curve B is the marginal revenue curve, curve C is the marginal cost curve and curve D is the average total cost curve.
Thus, a profit maximizing monopoly's total revenue is equal to;
(P₃ - P₀) * Q₂
Read more about Monopoly Curve at; brainly.com/question/15706456
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Answer:
Social life is the correct answer.
Explanation:
2/3 miles
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1/3 hour
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2/3 * 3/1
2 miles per hour is the unit rate
Answer: 2 miles per hour
