Answer: Option (B) is correct.
Explanation:
Monopoly is a market condition where there is only one firm and that single firm have the power to influence the price of the goods.
Monopolist produces the quantity of output where marginal revenue is equal to marginal cost, just like a competitive firm which also produces at a point where marginal revenue equals marginal cost.
In case of competitive firm, price is equal to the marginal cost but in case of monopolist price is greater than marginal cost.
