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

Question

TuteeHUB · Accepted Answer

In competitive markets price equals marginal cost, in monopolized markets price equals marginal cost

TuteeHUB · Answer

In competitive markets, price equals marginal cost, in monopolized markets price exceeds marginal cost.

TuteeHUB · Answer

In competitive markets price exceeds marginal cost, in monopolized markets price exceeds marginal cost

TuteeHUB · Answer

In competitive markets price exceeds marginal cost in monopolized markets price equals marginal cost

1.	Which of the following statements about price and marginal cost in competitive and monopolized markets is true ?
A.	In competitive markets, price equals marginal cost, in monopolized markets price exceeds marginal cost.
B.	In competitive markets price equals marginal cost, in monopolized markets price equals marginal cost
C.	In competitive markets price exceeds marginal cost, in monopolized markets price exceeds marginal cost
D.	In competitive markets price exceeds marginal cost in monopolized markets price equals marginal cost
Answer» B. In competitive markets price equals marginal cost, in monopolized markets price equals marginal cost

Discussion