A monopolist and a perfect competitor can both sell ten units of a good they produce for $5 a unit. Which of the following statements is NOT TRUE?
The perfect competitor can sell the eleventh unit for $5
The perfect competitor's marginal revenue curve is a straight line at $5
The monopolist can sell the eleventh unit at $5
The monopolist has a decreasing marginal revenue curve
All of the above are true
At equilibrium, the quantity supplied equals the quantity demanded. If a demand schedule may be written as P = 80-8Q and a supply schedule is expressed as P=60+2Q, the solution set for equilibrium price and quantity is P= and Q =