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Exhibit 9-21 -In Exhibit 9-21, D = AR Represents the Market Demand

Question 18

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Exhibit 9-21 Exhibit 9-21 -In Exhibit 9-21, D = AR represents the market demand curve for bicycles, MR<sub>m</sub> represents the marginal revenue curve for a monopolist producer of bicycles and S<sub>c</sub> = MC = AC represents the marginal cost curve for a monopolist producer of bicycles and the market supply curve when the market is perfectly competitive. The consumer surplus in a competitive market would be A) $10 B) $20 C) $30 D) $40 E) $50
-In Exhibit 9-21, D = AR represents the market demand curve for bicycles, MRm represents the marginal revenue curve for a monopolist producer of bicycles and Sc = MC = AC represents the marginal cost curve for a monopolist producer of bicycles and the market supply curve when the market is perfectly competitive. The consumer surplus in a competitive market would be


A) $10
B) $20
C) $30
D) $40
E) $50

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