Exhibit 3  Demand and Cost Curves for GeneTech, a Monopolist

question 67

Multiple Choice

Exhibit 3  Demand and cost curves for GeneTech, a monopolist  with a patented vaccine

Consider Exhibit 9-3. Suppose GeneTech's patent expires and the market for the vaccine becomes perfectly competitive. Which of the following price and quantity combinations would be most likely?

• A) $45 per dose and 100 doses per hour
• B) $40 per dose and 200 doses per hour
• C) $35 per dose and 300 doses per hour
• D) $28 per dose and 450 doses per hour