Selling a Good at a Price Determined by the Intersection

question 557

Multiple Choice

Selling a good at a price determined by the intersection of the demand curve and the marginal cost curve is consistent with the
(i) socially-optimal level of output.
(ii) market solution for profit-maximizing competitive firms.
(iii) market solution for a profit-maximizing monopoly.

• A)(i) and (ii) only
• B)(ii) and (iii) only
• C)(i) and (iii) only
• D)(i), (ii), and (iii)

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