Exhibit 9-21 in Exhibit 9-21, D = AR Represents

question 12

Multiple Choice

Exhibit 9-21 In Exhibit 9-21, D = AR represents the market demand curve for bicycles, MR_m represents the marginal revenue curve for a monopolist producer of bicycles and S_c = MC = AC represents the marginal cost curve for a monopolist producer of bicycles and the market supply curve when the market is perfectly competitive.The consumer surplus in a competitive market would be

• A)$10
• B)$20
• C)$30
• D)$40
• E)$50

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