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

question 49

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 highly competitive 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) $2; 800
• C) $4; 600
• D) $6; 400
• E) $8; 800

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Definitions:

Medical Practice

The work or profession of providing medical care and services to patients, including diagnosis, treatment, and prevention of diseases.

Services Charged

Fees applied for professional services rendered, often in the context of healthcare, legal, or consulting work.

Statement

Similar to an invoice; a summary of total amounts owed, including outstanding charges as well as payments received for services provided by the office.

Previous Month

A term referring to the month that directly precedes the current month in the calendar.