For a Single-Price Monopoly,price Is

question 336

Multiple Choice

For a single-price monopoly,price is

• A) equal to marginal revenue.
• B) greater than marginal revenue.
• C) less than marginal revenue because the firm must lower its price in order to sell another unit of output.
• D) less than marginal revenue because the firm cannot increase its total revenue when the demand curve is downward sloping.
• E) equal to zero because the firm is not a price taker.

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