$D _ { M }$ represents market demand, $S _ { F }$ represents the fringe supply curve, $D _ { R }$ represents the dominant firm's residual demand curve, $M R _ { R }$ represents the dominant firm's marginal revenue curve, and $M C$ represents the dominant firm's marginal cost curve.

-Consider the information above. In equilibrium, what will the market price be?
A)$20
B)$65
C)$80
D)$110

Question

$D _ { M }$ represents market demand, $S _ { F }$ represents the fringe supply curve, $D _ { R }$ represents the dominant firm's residual demand curve, $M R _ { R }$ represents the dominant firm's marginal revenue curve, and $M C$ represents the dominant firm's marginal cost curve.

-Consider the information above. In equilibrium, what will the market price be?
A)$20 
B)$65 
C)$80 
D)$110

Quizplus · Accepted Answer

The market price in equilibrium is determined where the quantity demanded equals the quantity supplied. Without additional context or data, the choice provided is based on typical equilibrium pricing scenarios.

DMD _ { M }DM​ Represents Market Demand SFS _ { F }SF​

$D _ { M }$ Represents Market Demand $S _ { F }$