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.

Question

Quizplus · Accepted Answer

The Answer is B

In the Situation of Imperfect Competition, the Relation Between Market