Suppose That Market Demand Is Q = 660 - 12P

question 125

Multiple Choice

Suppose that market demand is Q = 660 - 12P and marginal cost is MC = 5. The producer surplus in a perfectly competitive market is $____, while the producer surplus in a monopoly market is $ ___.

• A) 0; 3,750
• B) 0; 7,500
• C) 0; 15,000
• D) 5,000; 3,750

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