Which of the Following Statements Is (Are) True of a Monopoly

question 370

Multiple Choice

Which of the following statements is (are) true of a monopoly? (i)
A monopoly has the ability to set the price of its product at whatever level it desires.
(ii)
A monopoly's total revenue will always increase when it increases the price of its product.
(iii)
The more a monopoly increases output, the higher the profits.

• A)(i) only
• B)(ii) only
• C)(i) and (ii) only
• D)(ii) and (iii) only