Which of the Following Best Explains Why Marginal Revenue for a Monopolist

question 187

Multiple Choice

Which of the following best explains why marginal revenue for a monopolist is less than the sales price?

• A) To sell more units, the monopolist must reduce price on all units sold.
• B) As the monopolist expands output, the average total cost of production declines.
• C) The monopolist charges each consumer the highest possible price.
• D) When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.

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