Figure 10-12
Figure 10-12 shows the cost and demand curves for a monopolist.
-Refer to Figure 10-12.If this industry was organized as a perfectly competitive industry,the market output and market price would be
A) output = 62; price = $24.
B) output = 83; price = $22.
C) output = 62; price = $18.
D) output = 104; price = $20.80.

Question

Figure 10-12
  Figure 10-12 shows the cost and demand curves for a monopolist.
-Refer to Figure 10-12.If this industry was organized as a perfectly competitive industry,the market output and market price would be
A) output = 62; price = $24. 
B) output = 83; price = $22. 
C) output = 62; price = $18. 
D) output = 104; price = $20.80.

Quizplus · Accepted Answer

The Answer of Figure 10-12
  Figure 10-12 shows the cost and demand curves for a monopolist.
-Refer to Figure 10-12.If this industry was organized as a perfectly competitive industry,the market output and market price would be
A) output = 62; price = $24. 
B) output = 83; price = $22. 
C) output = 62; price = $18. 
D) output = 104; price = $20.80.

Figure 10-12 Figure 10-12 Shows the Cost and Demand Curves