Which of the following is true?

A. Both if there are only two firms in a market, prices must be above marginal cost and if there is only one firm in a market, prices must be above marginal cost are correct.
B. If there are only two firms in a market, prices must be above marginal cost.
C. If there is only one firm in a market, prices must be above marginal cost.
D. None of the answers is correct.


Answer: D

Economics

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Economics