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Figure 16-2 Watanabe Sensei Operates the Only Martial Arts

Question 122

Multiple Choice

Figure 16-2 Figure 16-2 Watanabe Sensei operates the only martial arts school in Hartfield.For simplicity,assume that consumers have identical demand curves and that Sensei knows what this demand curve is.Figure 16-2 shows this demand curve. -Refer to Figure 16-2.Suppose instead of charging the monopoly price for his classes,Sensei charges the competitive price.What is the competitive price and what is the quantity demanded at this price? A) P<sub>0</sub>,Q<sub>1</sub> B) P<sub>0</sub>,Q<sub>0</sub> C) P<sub>1</sub>,Q<sub>0</sub> D) P<sub>1</sub>,Q<sub>1</sub> Watanabe Sensei operates the only martial arts school in Hartfield.For simplicity,assume that consumers have identical demand curves and that Sensei knows what this demand curve is.Figure 16-2 shows this demand curve.
-Refer to Figure 16-2.Suppose instead of charging the monopoly price for his classes,Sensei charges the competitive price.What is the competitive price and what is the quantity demanded at this price?


A) P0,Q1
B) P0,Q0
C) P1,Q0
D) P1,Q1

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