Figure 13.5 Figure 13.5 Shows the Demand and Cost Curves for a and Cost

question 14

Multiple Choice

Figure 13.5

Figure 13.5 shows the demand and cost curves for a monopolist.
-Refer to Figure 13.5.What is the difference between the monopoly's price and perfectly competitive industry's price?

• A)The monopoly's price is higher by $9.50.
• B)The monopoly's price is higher by $13.
• C)The monopoly's price is higher by $3.50.
• D)The monopoly's price is higher by $21.

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