-If the industry in the above figure was perfectly competitive, the level of output would
A) be less than the single-price monopoly level of output.
B) be the same as the single-price monopoly level of output.
C) exceed the single-price monopoly level of output by 20 units per day.
D) exceed the single-price monopoly level of output by 60 units per day.

Question

-If the industry in the above figure was perfectly competitive, the level of output would
A) be less than the single-price monopoly level of output. 
B) be the same as the single-price monopoly level of output. 
C) exceed the single-price monopoly level of output by 20 units per day. 
D) exceed the single-price monopoly level of output by 60 units per day.

Quizplus · Accepted Answer

The Answer of 
-If the industry in the above figure was perfectly competitive, the level of output would
A) be less than the single-price monopoly level of output. 
B) be the same as the single-price monopoly level of output. 
C) exceed the single-price monopoly level of output by 20 units per day. 
D) exceed the single-price monopoly level of output by 60 units per day.

-If the Industry in the Above Figure Was Perfectly Competitive