These graphs depict the price and output levels of apples under perfect competition and monopoly market structures. What is the extra amount that Mary would pay for apples under a monopoly instead of a perfect competition?
A).$2
B).$3
C).$4
D).$5
E).$6
The answer is B. $3 because the difference between $15 (where price is determined in a monopoly) and $12 (where price is determined in perfect competition) is $3.
