Figure 8-9 Figure 8-9 Shows the Demand and Cost

question 253

Multiple Choice

Figure 8-9 Figure 8-9 shows the demand and cost curves for a monopolist.
-Refer to Figure 8-9.What is the difference between the monopoly's price and the 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.