Firefox File Edit View History Bookmarks Tools Window Help 3 B UMass Boston Bb Take Test: Monopoly 1 - ECON 1 X C O & https://umb.umassonline.net/webapps/assessment/take/launch.jsp?course_assessment_id=_83370_1&co Question Completion Status: QUESTION 3 Match the mathematical formulas, for the single-price Monopolist E. v Profit A. = A Total Revenue / A Quantity A. Marginal Revenue B. = Average Revenue > Marginal Revenue D. Marginal Cost C. = Total Revenue / Quantity C. v Price D. = A Total Cost / A Quantity B. Average Revenue E. = Total Revenue - Total Cost QUESTION 4 For economists, the economic profit that a Monopoly earns Ol maximizes marginal product O minimizes marginal cost maximizes marginal revenue Ol not always a bad thing well deserved QUESTION 5 To maximize profit, a monopolist should produce where Total Revenue (TR) = Total Cost (TC) Price (D) = Averone Total Cnet /ATC) Click Save and Submit to save and submit. Click Save All Answers to save all answers. JUL 13 stv 20 Q O DII F6 F7 F8