Economics Multiple Choice Question – 7 May 2023

To maximise total revenue, up to which point should a monopolist increase output?

Select ONE answer:

1. where marginal revenue equals average revenue
2. where marginal revenue is maximised
3. where marginal revenue is zero
4. where price elasticity of demand is zero

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

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