In the Situation of Imperfect Competition, the Relation Between Market

Multiple Choice

In the situation of imperfect competition, the relation between market price P and marginal revenue MR for each supplying firm is that:

A) P is less than MR at all or most output levels.
B) P is greater than MR at all or most output levels.
C) P is the same as MR at all output levels.
D) P is either less than MR at particular output levels or the same as MR.
E) none of the above, since P is not related to MR.