Micro Unit 4.2 HW: Monopoly (MS)

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Use the graph above for the respective pure monopolist. Select all statements below for which you believe to be true.

The profit maximizing output for this firm is M.
At the profit maximizing output the firm's economic profit will be BAFG.
At output R, economic profits will be zero.
At output Q production will be unprofitable.
The profit maximizing price for this firm is C.
At output M, total variable cost will be OCHM.
From society's point of view it would be desirable to have the monopolist produce a larger output than M.
At output Q, average variable cost is QJ.