Figure 8-9 Figure 8-9 shows the demand and cost curves for a monopolist.
-Refer to Figure 8-9.What is the difference between the monopoly's price and the perfectly competitive industry's price?

Question

Figure 8-9  Figure 8-9 shows the demand and cost curves for a monopolist.
-Refer to Figure 8-9.What is the difference between the monopoly's price and the perfectly competitive industry's price?

Quizplus · Accepted Answer

The monopoly's price is at $18.5, while the perfectly competitive industry's price is at $5.5. Thus, the difference between the two prices is $13.

Figure 8-9 Figure 8-9 Shows the Demand and Cost