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The graph shows the revenue curves and cost curves for a monopoly. A graph plots the demand and MR curves with the MC and ATC
The graph shows the revenue curves and cost curves for a monopoly. A graph plots the demand and MR curves with the MC and ATC curves on Quantity along the horizontal axis and Price along the vertical axis. The demand curve and the MR curve start at a common point on price and have negative slopes. Point A is marked on the demand curve at D on quantity, G on price. The MC curve corresponds to E on price and with a slight dip rises up, intersecting the MR curve at point K, which is D on quantity, F on price. The ATC curve corresponds to I on price and with a slight dip rises up, intersecting the demand curve at point L, which is D on quantity, I on price. Point C is marked on the ATC curve at D on quantity, E on price. The ATC and the MC curves intersect at J on quantity, E on price. At the profit-maximizing output, total revenue is the area: Incorrect: EGAC. EGAC. 0ILH. 0ECD. 0GAD
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