What determines the output level needed to achieve the stated aim of a monopoly firm?
- Aaim: maximum efficiency; produce at output where marginal cost is at a minimum
- Baim: profit maximising; produce at output where marginal cost is equal to average revenue
- Caim: quantity of sales maximising; produce at output where marginal revenue is equal to average cost
- Daim: revenue maximising; produce at output where marginal revenue is zero