Which of the following statements about price and marginal cost in - ProProfs Discuss
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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 equals marginal cost
B. In competitive markets, price exceeds marginal cost; in monopolized markets, price exceeds marginal cost
C. In competitive markets, price equals marginal cost; in monopolized markets, price exceeds marginal cost
D. In competitive markets, price exceeds marginal cost; in monopolized markets, price equals marginal cost

This question is part of Microeconomics [Ch. 1
Asked by Emy_, Last updated: Jan 17, 2020

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John Smith

John Smith

Answered Dec 16, 2016

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

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