Because monopoly firms are price setters:
A) they can only sell more by lower price.
B) they charge all the market will bear.
C) they sell more at higher prices than at lower prices.
D) they take the market-determined price as given and sell all they can at that price.

Question

Quizplus · Accepted Answer

Monopoly firms are price setters, meaning they have the power to influence the price of their product. To sell more, they typically need to lower the price, as they face a downward-sloping demand curve.

Because Monopoly Firms Are Price Setters