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21. Consider the figure below. Output in a competitive market will be units and producer surplus will be and its producer surplus will be whereas a monopolist will produce , P 7 6.5- 6 5.5- 5 4.5 3.5- O LON 2.5- 2 1.5- 1 2 3 A. 3; 8; 3; 9 B. 3; 9; 4; 8 C. 4; 9; 3; 8 D. 4; 8; 3; 9 E. 4; 8; 4; 8 5 6 Page 11 MC AVC Demand Q דו 9 10 11 12 13 units

21. Consider the figure below. Output in a competitive market will be units and producer surplus will be and its producer surplus will be whereas a monopolist will produce , P 7 6.5- 6 5.5- 5 4.5 3.5- O LON 2.5- 2 1.5- 1 2 3 A. 3; 8; 3; 9 B. 3; 9; 4; 8 C. 4; 9; 3; 8 D. 4; 8; 3; 9 E. 4; 8; 4; 8 5 6 Page 11 MC AVC Demand Q דו 9 10 11 12 13 units

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Monopoly
Section: Chapter Questions
Problem 7PA
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21. Consider the figure below. Output in a competitive market will be units and producer surplus will be and its producer surplus will be whereas a monopolist will produce , P 7 6.5- 6 5.5- 5 4.5 3.5- O LON 2.5- 2 1.5- 1 2 3 A. 3; 8; 3; 9 B. 3; 9; 4; 8 C. 4; 9; 3; 8 D. 4; 8; 3; 9 E. 4; 8; 4; 8 5 6 Page 11 MC AVC Demand Q דו 9 10 11 12 13 units
Transcribed Image Text:21. Consider the figure below. Output in a competitive market will be units and producer surplus will be and its producer surplus will be whereas a monopolist will produce , P 7 6.5- 6 5.5- 5 4.5 3.5- O LON 2.5- 2 1.5- 1 2 3 A. 3; 8; 3; 9 B. 3; 9; 4; 8 C. 4; 9; 3; 8 D. 4; 8; 3; 9 E. 4; 8; 4; 8 5 6 Page 11 MC AVC Demand Q דו 9 10 11 12 13 units
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