Use the Figure to Answer the Following Question(s)

question 129

Multiple Choice

Use the figure to answer the following question(s) .
Figure 11-8
-The demand and cost conditions in an industry are as depicted in Figure 11-8. In the viewpoint of economic efficiency, what would the ideal price and output be?

• A) price, $10; quantity produced, 100
• B) price, $15; quantity produced, 50
• C) price, $15; quantity produced, 75
• D) price, $20; quantity produced, 50

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Definitions:

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