Relative to a Profit-Maximizing Competitively Organized Industry That Is Producing

question 291

Multiple Choice

Relative to a profit-maximizing competitively organized industry that is producing 3,000 units of output at a price of $5 per unit, a monopoly under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

• A) 3,000; $5
• B) more than 3,000; more than $5
• C) less than 3,000; less than $5
• D) less than 3,000; more than $5

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