Multiple Choice
Which of the following statements correctly identifies a similarity between monopoly and perfect competition?
A) Entry is restricted in both market structures.
B) Price equals marginal cost in both market structures.
C) Production is expanded until marginal revenue equals marginal cost in both market structures.
D) Firms face an upward-sloping demand curve and a downward-sloping marginal revenue curve in both market structures.
Correct Answer:
Verified
Correct Answer:
Verified
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