Use the Following Two Statements to Answer This Question: I

question 156

Multiple Choice

Use the following two statements to answer this question: I. For a monopolist, at every output level, average revenue is equal to price.
II) For a monopolist, at every output level, marginal revenue is equal to price.

• A) Both I and II are true.
• B) I is true, and II is false.
• C) I is false, and II is true.
• D) Both I and II are false.
• E) Statements I and II could either be true or false depending upon demand.