To Maximize Profits, a Monopoly Produces at ____ and a Competitive

Multiple Choice

To maximize profits, a monopoly produces at ____ and a competitive firm produces at ____.

A) price equal to marginal cost; price equal to marginal cost
B) price equal to average cost; price equal to marginal cost
C) marginal revenue greater than marginal cost; price greater than marginal cost
D) marginal revenue equal to marginal cost; price equal to marginal cost
E) marginal revenue equal to average revenue; price greater than marginal revenue