Solved

-Refer to the Above Figure P1P _ { 1 } To P2P _ { 2 }

Question 349

Multiple Choice

   -Refer to the above figure.Suppose this industry was perfectly competitive and then merged into one monopolistic firm.The monopoly would A) raise price from  P _ { 1 }  to  P _ { 2 }  . B) reduce output from  \mathrm { Q } _ { 3 }  to  \mathrm { Q } _ { 1 }  . C) reduce output from  \mathrm { Q } _ { 2 }  to  \mathrm { Q } _ { 1 }  and raise price from  \mathrm { P } _ { 3 }  to  \mathrm { P } _ { 4 }  . D) raise price from  P _ { 1 }  to  \mathrm { P } _ { 4 }  .
-Refer to the above figure.Suppose this industry was perfectly competitive and then merged into one monopolistic firm.The monopoly would


A) raise price from P1P _ { 1 } to
P2P _ { 2 } .
B) reduce output from Q3\mathrm { Q } _ { 3 } to
Q1\mathrm { Q } _ { 1 } .
C) reduce output from Q2\mathrm { Q } _ { 2 } to
Q1\mathrm { Q } _ { 1 } and raise price from
P3\mathrm { P } _ { 3 } to
P4\mathrm { P } _ { 4 } .
D) raise price from P1P _ { 1 } to
P4\mathrm { P } _ { 4 } .

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents