A Monopolist Can Earn an Economic Profit Only When

A monopolist can earn an economic profit only when:

A) marginal cost equals marginal revenue, and the same is true for a perfectly competitive firm.
B) marginal cost equals price, while a perfectly competitive firm earns a profit if average total cost is less than price.
C) average total cost is less than price and the same is true for a perfectly competitive firm.
D) average variable cost exceed marginal cost, while a perfectly competitive firm earns a profit if average total cost exceeds marginal cost.