Suppose the price at which a monopolist is selling its output is $8, and the marginal revenue associated with the last unit of output sold is $7. Suppose further that the marginal cost of producing the last unit of output sold is $6. Which of the following actions should th enon price discriminating monopolist take to increase profits?
a. increase output, increase price
b. decrease output, decrease price
c. increase output, decrease price
d. decrease output, increase price