Which one of the following is true for a single-price monopolist but not for a perfectly competitive firm?
A) The firm maximizes profit by setting marginal cost equal to marginal revenue.
B) The firm is a price-taker.
C) The firm can sell any level of output at any price it sets.
D) The firm's marginal cost is less than price.
E) The firm's marginal revenue curve is horizontal.
Correct Answer:
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