
-Referring to the above graphic,which of the following statements is FALSE?
A) In panel (a) ,a competitive situation is shown in which equilibrium is established at the intersection of D and S at point E.
B) In panel (a) ,the equilibrium price is and the equilibrium quantity
.
C) The price the monopolist charges in panel (b) at is lower than the price that the competitive producer charges.
D) The monopolist produces at ,and charges a price of
,while maximizing profits at the intersection of MC and MR.
Correct Answer:
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