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Today General Knowledge(GK)
The difference between monopoly equilibrium and competitive equilibrium is
A)
There is no difference at all
B)
Under perfect competition, the MC = MR whereas under monopolistic conditions this need not be the case
C)
The MC should rise at the point of equilibrium under perfect competition whereas under monopoly it can rise, fall or remain constant
D)
None of the above

Correct Answer : Option (C) - The MC should rise at the point of equilibrium under perfect competition whereas under monopoly it can rise, fall or remain constant


Published On : May 20, 2021
Category : Business and Economics
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