Exhibit 9-21 in Exhibit 9-21, D = AR Represents

Multiple Choice

Exhibit 9-21 In Exhibit 9-21, D = AR represents the market demand curve for bicycles, MR_m represents the marginal revenue curve for a monopolist producer of bicycles and S_c = MC = AC represents the marginal cost curve for a monopolist producer of bicycles and the market supply curve when the market is perfectly competitive.The market price in a competitive market would be

A) $10
B) $15
C) $20
D) $25
E) $30