Use the Following Figure to Answer the Question : Figure

Multiple Choice

Use the following figure to answer the question : Figure 13-2 : shows the market demand curve [DD'],the supply curve of the fringe firms [S_F],the cartel's marginal cost curve [MC₀],and the cartel's marginal revenue curve [MR₀].Assume that the cartel behaves like a dominant firm.
-Refer to Figure 13-2.If the market had been perfectly competitive,the equilibrium price and output would be _____ respectively.

A) P_C and Q_T
B) P and Q₀
C) P_C and Q_F
D) P and Q_F