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Refer to the Graph Shown

Question 229

Multiple Choice

Refer to the graph shown. If a competitive industry producing hamburgers is taken over by a pure monopoly firm that maximizes profit: Refer to the graph shown. If a competitive industry producing hamburgers is taken over by a pure monopoly firm that maximizes profit: A) output will remain at 100 but price will rise to $6. B) price will remain at $6 but output will fall by 100. C) price will remain at $4 but output will fall by 100. D) price will rise to $6 and output will fall by 100.


A) output will remain at 100 but price will rise to $6.
B) price will remain at $6 but output will fall by 100.
C) price will remain at $4 but output will fall by 100.
D) price will rise to $6 and output will fall by 100.

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