Figure 15-12 Figure 15-12 Shows the Cost and Demand Curves for a and Demand

Multiple Choice

Figure 15-12

Figure 15-12 shows the cost and demand curves for a monopolist.
-Refer to Figure 15-12.If this industry was organized as a perfectly competitive industry, the market output and market price would be

A) output = 62; price = $24.
B) output = 83; price = $22.
C) output = 62; price = $18.
D) output = 104; price = $20.80.