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

question 154

Multiple Choice

Relative to a profit-maximizing competitively organized industry that is producing 6,000 units of output at a price of $7 per unit, firms acting collusively under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

• A) 6,000; $7
• B) more than 6,000; more than $7
• C) less than 6,000; less than $7
• D) less than 6,000; more than $7