Use the Following to Answer Question(s)

Multiple Choice

Use the following to answer question(s) :
Exhibit: Profit Maximizing

-(Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a perfectly competitive market. If the market price is P₄:

A) marginal revenue and price are the same.
B) marginal revenue is less than P₄.
C) marginal revenue is greater than P₄.
D) none of the above is true.