Which of the Following Statements About Price and Marginal Cost

question 10

Multiple Choice

Which of the following statements about price and marginal cost in competitive and monopolised markets is true?

• A) In competitive markets, price equals marginal cost; in monopolised markets, price exceeds marginal cost.
• B) In competitive markets, price equals marginal cost; in monopolised markets, price equals marginal cost.
• C) In competitive markets, price exceeds marginal cost; in monopolised markets, price exceeds marginal cost.
• D) In competitive markets, price exceeds marginal cost; in monopolised markets, price equals marginal cost.

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