Figure 15-9 Figure 15-9 Shows the Demand and Cost Curves for a and Cost

Multiple Choice

Figure 15-9

Figure 15-9 shows the demand and cost curves for a monopolist.
-Refer to Figure 15-9.What is the difference between the monopoly's price and perfectly competitive industry's price?

A) The monopoly's price is higher by $9.50.
B) The monopoly's price is higher by $13.
C) The monopoly's price is higher by $3.50.
D) The monopoly's price is higher by $21.