Multiple Choice
Which of the following is NOT true about a monopoly?
A) The demand curve for a monopoly's product is perfectly elastic
B) For any given quantity the price of the monopoly's product will exceed the marginal revenue from that amount.
C) If the monopoly maximizes profit it will charge a price that exceeds marginal cost.
D) It must adjust output until marginal revenue equals marginal cost to maximize profit.
Correct Answer:
Verified
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