Figure 15-5 Figure 15-5 shows the cost and demand curves for a monopolist.
-Refer to Figure 15-5.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 15-5  Figure 15-5 shows the cost and demand curves for a monopolist.
-Refer to Figure 15-5.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 15-5  Figure 15-5 shows the cost and demand curves for a monopolist.
-Refer to Figure 15-5.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 15-5 Figure 15-5 Shows the Cost and Demand