Multiple Choice
-Which of the following is true? In the above figure, if the market is
A) a monopoly, output will be Q3 and price will be P3.
B) a monopoly, output will be Q1 and price will be P3.
C) perfect competition, output will be Q3 and price will be P3.
D) perfect competition, output will be Q1 and price will be P1.
E) perfect competition, output will be Q2 and price will be P2.
Correct Answer:
Verified
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