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
Correct Answer: In competitive markets, price equals marginal cost, in monopolized markets price exceeds marginal cost. ✔
Last Updated: June 18, 2019