-The First Table Shows the Market Demand Schedule for CDs

question 127

Multiple Choice

-The first table shows the market demand schedule for CDs, and the second table shows the cost structure of each firm. The CD market is perfectly competitive and there are 100 identical firms. The market price of a CD is _______, and _______ CDs are produced and sold.

• A) $10.00; 10,000
• B) $9.00; 20,000
• C) $9.50; 15,000
• D) $8.50; 24,000

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