Relative to a Profit-Maximizing Monopolized Industry That Is Producing 8,000

question 320

Multiple Choice

Relative to a profit-maximizing monopolized industry that is producing 8,000 units of output at a price of $10 per unit, a competitively organized industry under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

• A) 8,000; $10
• B) less than 8,000; less than $10
• C) more than 8,000; less than $10
• D) less than 8,000; more than $10