Refer to the graph shown. If hamburgers are produced by a perfectly competitive industry with a market demand D:
A) output will be the same as it would be under monopoly.
B) price will equal marginal cost.
C) price will equal $6.
D) price will be greater than marginal revenue.

Question

Refer to the graph shown. If hamburgers are produced by a perfectly competitive industry with a market demand D: 
A) output will be the same as it would be under monopoly. 
B) price will equal marginal cost. 
C) price will equal $6. 
D) price will be greater than marginal revenue.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. If hamburgers are produced by a perfectly competitive industry with a market demand D: 
A) output will be the same as it would be under monopoly. 
B) price will equal marginal cost. 
C) price will equal $6. 
D) price will be greater than marginal revenue.

Refer to the Graph Shown