If a Monopoly Sells a Quantity of Its Good That

question 76

Multiple Choice

If a monopoly sells a quantity of its good that is smaller than the socially optimal level,what do we know about the price

• A)It will be inefficiently low since it is lower than average total cost.
• B)It will be inefficiently low since it is higher than average total cost.
• C)It will be inefficiently high since it is higher than marginal cost.
• D)It will be inefficiently high since it is lower than marginal cost.

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