Which of the following statements regarding a monopolist is false? A)
Which of the following statements regarding a monopolist is false?
A) The marginal revenue curve lies below the demand curve for the monopolist’s output.
B) Unlike a perfectly competitive firm, a monopolist faces little or no competition.
C) The monopolist sets price equal to marginal cost to maximize profits.
D) The monopolist may or may not earn positive economic profits.
ANSWER
C
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