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Industry demand is given by P = 200 – .4Q. The long-run industry
costs are such that: LAC = LMC = $80. Based on this information,
which of the following is true?

a) If the market is a pure monopoly, the price of the good will
be $140.
b) If the market is perfectly competitive, 300 units of the good
will be supplied.
c) If the market is perfectly competitive, the price of the good
will be $100.
d) If the market is a pure monopoly, 200 units of the good will be
produced.
e) If the markeis a pure monopoly, the price of the good will be
$140 and if the market is perfectly competitive, 300 units of the
good will be supplied are both correct.