Three Firms Agree to Operate as a Monopoly and Charge

Multiple Choice

Three firms agree to operate as a monopoly and charge the monopoly price of $50 for their product and (jointly) produce the monopoly quantity of 10,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of_______ .

A) $450,000
B) $1,000,000
C) $150,000
D) $3,000,000