-Refer to the Above Figure

question 172

Multiple Choice

-Refer to the above figure. Which of the following statements is true about the demand curves for an individual firm in a perfectly competitive industry and a monopoly?

• A) Panel A is the demand curve for a perfectly competitive firm and panel B is the demand curve for a monopoly.
• B) Panel C is the demand curve for a perfectly competitive firm and panel A is the demand curve for a monopoly.
• C) Panel C is the demand curve for a perfectly competitive firm and panel B is the demand curve for a monopoly.
• D) Panel B is the demand curve for a perfectly competitive firm and panel A is the demand curve for a monopoly.