Selling a good at a price determined by the intersection of the demand curve and the marginal cost curve is consistent with
(i) the socially-optimal level of output.
(ii) the market solution for profit-maximizing competitive firms.
(iii) the market solution for a profit-maximizing monopoly.
a. (i) and (ii)
b. (ii) and (iii)
c. (i) and (iii)
d. (i), (ii), and (iii)
Answer: A
Microeconomics
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