At equilibrium, one of the distinctive features of monopoly compared with perfect competition is that...
ECONOMICS
JAMB 1993
At equilibrium, one of the distinctive features of monopoly compared with perfect competition is that in the former?`
- A. price is always equal to marginal cost
- B. supply is always equal to demand
- C. price is always higher than marginal cost
- D. there are always many buyers and many sellers
Correct Answer: A. price is always equal to marginal cost
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