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63 Refer to the following data regarding a Monopoly firm. Quantity (Units) 2 3 4 5 6 7 8 AR ($) 24 21 18 15

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Refer to the following data regarding a Monopoly firm. Quantity (Units) 2 3 4 5 6 7 8 AR ($) 24 21 18 15 12 9 6 MR ($) 21 15 9 3 -3 -9 -15 MC ($) 7 5 9 11 12 13 13.5 AC ($) 25 18.34 16 15 14.5 14.28 13.68 Socially Optimal price is O A. $9 O B. $24 O C. $12 O D. $17

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