(Answered) Profit-maximizing firm with a monopoly

Economics

Problem: The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants. The firm sells its pennants for $10 each. We can conclude that the XYZ Company is producing a level of output at which:

Select one:

a. average total cost equals $10.

b. average total cost is greater than $10.

c. marginal revenue equals $10.

d. marginal cost equals marginal revenue.

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