Figure 14-4

Multiple Choice

Figure 14-4
In the following figure, graph (a) depicts the linear marginal cost (MC) of a firm in a competitive market, and graph (b) depicts the linear market supply curve for a market with a fixed number of identical firms.
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-Refer to Figure 14-4. When 100 identical firms participate in this market, at what price will 15,000 units be supplied to this market?

A) $1.00
B) $1.50
C) $2.00
D) The price cannot be determined from the information provided.