If the industry depicted in this graph were purely competitive, then the market price would be
A)$25, which is higher than what the price would have been if the industry were a monopoly.
B)$25, which is lower than what the price would have been if the industry were a monopoly.
C)$20, which is higher than what the price would have been if the industry were a monopoly.
D)$20, which is lower than what the price would have been if the industry were a monopoly.

Question

If the industry depicted in this graph were purely competitive, then the market price would be
A)$25, which is higher than what the price would have been if the industry were a monopoly. 
B)$25, which is lower than what the price would have been if the industry were a monopoly. 
C)$20, which is higher than what the price would have been if the industry were a monopoly. 
D)$20, which is lower than what the price would have been if the industry were a monopoly.

Quizplus · Accepted Answer

The Answer of  If the industry depicted in this graph were purely competitive, then the market price would be
A)$25, which is higher than what the price would have been if the industry were a monopoly. 
B)$25, which is lower than what the price would have been if the industry were a monopoly. 
C)$20, which is higher than what the price would have been if the industry were a monopoly. 
D)$20, which is lower than what the price would have been if the industry were a monopoly.

If the Industry Depicted in This Graph Were Purely Competitive