In a Monopolistically Competitive Industry,how Does Price Compare with Marginal

question 125

Multiple Choice

In a monopolistically competitive industry,how does price compare with marginal cost

• A)Price is equal to marginal cost since each firm is a price taker.
• B)Price is below marginal cost since each firm is a price taker.
• C)Price is above marginal cost since each firm is a price setter.
• D)Price is a fraction of marginal cost since each firm is a price setter.

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