To maximize profit,a pure monopolist must:

A) maximize its total revenue.
B) maximize the difference between marginal revenue and marginal cost.
C) maximize the difference between total revenue and total cost.
D) produce where average total cost is at a minimum.

Pure Monopolist

A market scenario where a single company or entity solely controls the entire market for a particular product or service, with no close substitutes.

Marginal Revenue

The additional income generated from selling one more unit of a good or service, crucial for decision-making about production levels.

Total Revenue

The overall amount of money generated by a firm from selling its goods or services.