The table below shows the costs and demand for the Primrose Oil industry.
a)If this were a perfectly competitive industry,what would be the price,output and total industry profit?
b)If,alternately,this were a monopoly industry,what would the price,output,and total profit?
Hint: Calculate [TR;MR;MC]

Question

The table below shows the costs and demand for the Primrose Oil industry.
  a)If this were a perfectly competitive industry,what would be the price,output and total industry profit?
b)If,alternately,this were a monopoly industry,what would the price,output,and total profit?
Hint: Calculate [TR;MR;MC]

Quizplus · Accepted Answer

The Answer of The table below shows the costs and demand for the Primrose Oil industry.
  a)If this were a perfectly competitive industry,what would be the price,output and total industry profit?
b)If,alternately,this were a monopoly industry,what would the price,output,and total profit?
Hint: Calculate [TR;MR;MC]

The Table Below Shows the Costs and Demand for the Primrose