The diagram illustrates the cost and revenue curves for a monopoly producer whose sole production cost is a fixed cost. What action will such a monopolist take?
- Aset a price of OX in the short run and the long run
- Bset a price of OY in the short run and the long run
- Cset a price of OX in the short run, but discontinue production in the long run
- Dset a price of OY in the short run, but discontinue production in the long run