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47. Let P = price, MR = marginal revenue, and MC = marginal cost. For a profit-maximizing monopolist, which of the following relationships holds? a.

47. Let P = price, MR = marginal revenue, and MC = marginal cost. For a profit-maximizing monopolist, which of the following relationships holds? a. P > MR > MC b. P > MR = MC C. MR

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