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Exhibit 3  Demand and Cost Curves for GeneTech, a Monopolist

Question 67

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Exhibit 3  Demand and cost curves for GeneTech, a monopolist  with a patented vaccine
Exhibit 3  Demand and cost curves for GeneTech, a monopolist  with a patented vaccine Consider Exhibit 9-3. Suppose GeneTech's patent expires and the market for the vaccine becomes perfectly competitive. Which of the following price and quantity combinations would be most likely? A) $45 per dose and 100 doses per hour B) $40 per dose and 200 doses per hour C) $35 per dose and 300 doses per hour D) $28 per dose and 450 doses per hour
Consider Exhibit 9-3. Suppose GeneTech's patent expires and the market for the vaccine becomes perfectly competitive. Which of the following price and quantity combinations would be most likely?


A) $45 per dose and 100 doses per hour
B) $40 per dose and 200 doses per hour
C) $35 per dose and 300 doses per hour
D) $28 per dose and 450 doses per hour

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