Suppose that market demand is Q = 660 - 12P and marginal cost is MC = 5. The producer surplus in a perfectly competitive market is $____, while the producer surplus in a monopoly market is $ ___.
A) 0; 3,750
B) 0; 7,500
C) 0; 15,000
D) 5,000; 3,750
Correct Answer:
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