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Use Figure: The Profit-Maximizing Output and Price. Figure: The Profit-Maximizing Output and Price Price, cost, marginal revenue of diamond $1,000 800 B 600 400 A

Use Figure: The Profit-Maximizing Output and Price. Figure: The Profit-Maximizing Output and Price Price, cost, marginal revenue of diamond $1,000 800 B 600 400 A C MC 200 0 D -200 MR -400 8 10 16 20 Quantity of diamonds Under perfect competition, the price of the good would be and units would be produced. O A. $600; 8 B. $200; 8 O C. $200; 16 O D. $600; 16

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