The Following Figures Show the Demand and Cost Curves of a Perfectly

Multiple Choice

The following figures show the demand and cost curves of a perfectly competitive firm and a monopoly respectively.Figure 11.7
D: Average Revenue
AC: Average cost
MC: Marginal cost
MR: Marginal cost
-Refer to Figure 11.7. If the perfectly competitive industry and the monopoly produces the same quantity, then:

A) there are 10 firms in the perfectly competitive industry.
B) there are 800 firms in the perfectly competitive industry.
C) there are 1,000 firms in the perfectly competitive industry.
D) there are 2,000 firms in the perfectly competitive industry.
E) there are 100 firms in the perfectly competitive industry.