The Following Table Shows a Small Community's Demand for Monthly

question 8

Multiple Choice

The following table shows a small community's demand for monthly subscriptions to a streaming movie service.Assume that only two firms (Nextflix and Flixbuster) sell in this market,that each firm offers the same quality of service and movie selection,and that each firm's marginal cost is constant and equal to 0 (zero) due to excess capacity.Use this information to answer the following questions:

-If this market were a monopoly instead of a duopoly,the market price would be ________ and the quantity of streaming movie subscriptions purchased each month would be ________.

• A) $0; 1,000
• B) $3; 700
• C) $5; 500
• D) $7; 300
• E) $9; 100

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Definitions:

Circumstances

The specific conditions or facts affecting a situation, event, or decision at a certain time.

Evidenced

Evidenced refers to the confirmation or support of a claim, assertion, or fact through the presentation of information, data, or tangible proof.

Purchasers Rights

Legal entitlements or protections that buyers have when they purchase goods or services.

Goods

Physical items that are produced or natural, which can be bought, sold, or traded in the market.