Which of the following statements is true?
A) A perfectly competitive firm operates in a market where marginal revenues are greater than the price.
B) A perfectly competitive firm operates in a market where marginal revenues are less than the price.
C) A monopolist operates in a market where marginal revenues are greater than the price.
D) A monopolist operates in a market where marginal revenues are less than the price.
E) A monopolist operates in a market where marginal revenues are equal to the price.
Correct Answer:
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