Refer to Figure 15-12. If this industry was organized as a ...

[jasdeep_brar]

Refer to Figure 15-12. If this industry was organized as a perfectly competitive industry, the market output and market price would be
 
  A) output = 83; price = 22. B) output = 62; price = 18.
  C) output = 62; price = 24. D) output = 104; price = 20.80.

Question 2

Because of the slope of the aggregate demand curve, we can say that
 
  A) a decrease in the price level leads to a lower level of real GDP demanded.
  B) an increase in the price level leads to a higher level of real GDP demanded.
  C) a decrease in the price level leads to a higher level of real GDP demanded.
  D) an increase in the price level leads to no change in the level of real GDP demanded.

[zacnyjessica]

Answer to Question 1

A

Answer to Question 2

C

[jasdeep_brar]

Thanks for the timely response, appreciate it

[shailee]

TYSM