The figure shows the market demand curve for telephone calls. Suppose the marginal cost of a telephone call is 2 cents a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry. Price and costs (cents per minute) f the firms in the industry operate as perfect competitors, there are minutes of calls made per hour. O A. more than 7 million and less than or equal to 9 million O B. between 0 and 3 million O C. more than 3 million and less than or equal to 5 million O D. more than 5 million and less than or equal to 7 million O E. more than 9 million 3- 2- MR

The figure shows the market demand curve for telephone calls. Suppose the marginal cost of a telephone call is 2 cents a minute for a call no matter how many minutes of calls are made and there are 3 firms in the industry. Price and costs (cents per minute) f the firms in the industry operate as perfect competitors, there are minutes of calls made per hour. O A. more than 7 million and less than or equal to 9 million O B. between 0 and 3 million O C. more than 3 million and less than or equal to 5 million O D. more than 5 million and less than or equal to 7 million O E. more than 9 million 3- 2- MR

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 13E

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