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Use the Figure to Answer the Following Question(s)

Question 161

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Use the figure to answer the following question(s) .
Figure 11-6
Use the figure to answer the following question(s) . Figure 11-6 The demand and cost conditions in an industry are as depicted in Figure 11-6. In the viewpoint of economic efficiency, what would the ideal price and output be? A) price, P <sub>1</sub>; quantity produced, Q <sub>1</sub> B) price, P <sub>2</sub>; quantity produced, Q <sub>2</sub> C) price, P <sub>3</sub>; quantity produced, Q <sub>1</sub> D) price, P <sub>1</sub>; quantity produced, Q <sub>2</sub>
The demand and cost conditions in an industry are as depicted in Figure 11-6. In the viewpoint of economic efficiency, what would the ideal price and output be?


A) price, P 1; quantity produced, Q 1
B) price, P 2; quantity produced, Q 2
C) price, P 3; quantity produced, Q 1
D) price, P 1; quantity produced, Q 2

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