If the government does not intervene in the market, then
A. there will be many firms in this market, all of whom will take the market price as given and produce where price equals marginal cost
B. there will only be 1 firm in this market, and they will produce where marginal revenue equals marginal cost
C. there will only be 1 firm in this market, and they will take the price as given and produce where price equals marginal cost
D. no firms will enter this market
Answer:B
If the government does not intervene in the market, then
A. there will be many firms in this market, all of whom will take the market price as given and produce where price equals marginal cost B. there will only be 1 firm in this market, and they will produce where marginal revenue equals marginal cost C. there will only be 1 firm in this market, and they will take the price as given and produce where price equals marginal cost D. no firms will enter this market
Explanation: 59. The following figure shows the average cost curve, demand curve, and marginal revenue curve for a monopolist.