Reference: Ref 15-1 (Figure: Competitive Market) Refer to the figure. If the market is competitive, price and output in the market would be:
A) P1 and Q1.
B) P1 and Q2.
C) P2 and Q1.
D) P2 and Q2.

Question

Reference: Ref 15-1 (Figure: Competitive Market) Refer to the figure. If the market is competitive, price and output in the market would be:
A) P1 and Q1. 
B) P1 and Q2. 
C) P2 and Q1. 
D) P2 and Q2.

Quizplus · Accepted Answer

The Answer of  Reference: Ref 15-1 (Figure: Competitive Market) Refer to the figure. If the market is competitive, price and output in the market would be:
A) P1 and Q1. 
B) P1 and Q2. 
C) P2 and Q1. 
D) P2 and Q2.

Reference: Ref 15-1 (Figure: Competitive Market) Refer to the Figure