The Demand Curve for the Output of a Certain Industry

question 52

Multiple Choice

The demand curve for the output of a certain industry is linear; q = A - Bp. There are constant marginal costs of C. For all values of A, B, and C such that A > 0, B > 0, and 0 < C < ,

• A) if the industry is monopolized, prices will be exactly twice as high as they would be if the industry were competitive.
• B) if the industry is competitive, output will be exactly twice as great as it would be if the industry were monopolized.
• C) if the industry is monopolized, prices will be more than twice as high as if the industry is competitive.
• D) if the industry is monopolized, output will be more than half as large as it would be if the industry were competitive.
• E) None of the above.

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A specific, measurable statement detailing what learners will be able to understand or do as a result of instruction.

Stroke

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