The External Marginal Cost of Producing Coal Is MC_external =

question 71

Multiple Choice

The external marginal cost of producing coal is MC_external = 6Q while the internal marginal cost is MC_internal = 4Q.The inverse demand for coal is given by P = 120 − 2Q.How much output would a monopoly produce?

• A) 10
• B) 20
• C) 15
• D) It cannot be determined because of incomplete information.

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