Which of the following statements is true?

Which of the following statements is true?



A. If a market is served by a monopoly that maximizes profit, the price of the monopoly's product will equal the marginal cost of making it available
B. If a market is served by a monopoly that maximizes profit, the price of the monopoly's product will exceed the marginal cost of making it available
C. If a market is served by a perfectly competitive industry, then when long run competitive equilibrium is attained the price of the product will equal the minimum possible average cost and the marginal cost of making it available
D. Both B and C





Answer: D