Relative to a profit-maximizing monopolized industry that is ...

[renzo156]

Question 1

Relative to a profit-maximizing competitively organized industry that is producing 3,000 units of output at a price of $5 per unit, a monopoly under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

◦ 3,000; $5
◦ more than 3,000; more than $5
◦ less than 3,000; less than $5
◦ less than 3,000; more than $5

Question 2

Relative to a profit-maximizing monopolized industry that is producing 8,000 units of output at a price of $10 per unit, a competitively organized industry under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

◦ 8,000; $10
◦ less than 8,000; less than $10
◦ more than 8,000; less than $10
◦ less than 8,000; more than $10

[bulacsom]

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[renzo156]

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[bulacsom]

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