The Markup of Price Over Marginal Cost of a Profit-Maximizing

question 40

Multiple Choice

The markup of price over marginal cost of a profit-maximizing firm in the long run is _____.

• A)higher in a perfectly competitive market than in a monopoly market
• B)higher in a monopoly market than in a monopolistically competitive market
• C)higher in a perfectly competitive market than in an oligopoly
• D)higher in a monopolistically competitive market than in a competitive market

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Definitions:

Except

Excluding or with the exclusion of; used to specify something as not included in a category or group.

By

A preposition indicating agency, means, or location; used to specify the person or thing that performs an action or through which a result is obtained.

Quite

Used as an adverb to indicate a considerable degree or fully; extremely.

It's

abbreviation for "it is" or "it has."