Which of the following is true?
A) If there are only two firms in a market, prices must be above marginal cost.
B) If there is only one firm in a market, prices must be above marginal cost.
C) Both A and B are correct.
D) None of the preceding answers is correct.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is true?
A) If there are only two firms in a market, prices must be above marginal cost.
B) If there is only one firm in a market, prices must be above marginal cost.
C) Both A and B are correct.
D) None of the preceding answers is correct.

Which of the Following Is True