Multiple Choice
The markup of price over marginal cost of a profit-maximizing firm in the long run is _____.
A) higher in a perfectly competitive market than in a monopoly market
B) higher in a monopoly market than in a monopolistically competitive market
C) higher in a perfectly competitive market than in an oligopoly
D) higher in a monopolistically competitive market than in a competitive market
Correct Answer:
Verified
Correct Answer:
Verified
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