Four Firms Agree to Operate as a Monopoly and Charge

Multiple Choice

Four firms agree to operate as a monopoly and charge the monopoly price of $10 for their product and (jointly) produce the monopoly quantity of 50,000 units. If the competitive price for the product is $6, under the Clayton Act these four firms face treble damages of_______ .

A) $600,000
B) $1,000,000
C) $3,000,000
D) $200,000