The Following Figure Shows Revenue and Cost Curves of a Monopolist.Figure

Multiple Choice

The following figure shows revenue and cost curves of a monopolist.Figure 11.8
AR: Average revenue curve
MR: Marginal revenue curve
MC: Marginal cost curve
-According to Figure 11.8, what will be the price charged by a perfectly competitive firm?

A) P₄
B) P₃
C) P₂
D) P₁
E) 0