alleryMatch profit rule: 1. Profit: p. MC eq MR 2. Range: q. Elastic 3. Gain: r. Excess
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
A monopolist maximizes profits where marginal cost equals marginal revenue in the elastic demand range.
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