Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

for a monopoly, marginal revenue is less than price because question 12 options: a) the firm is a price taker. b) the demand for the firm's output is perfectly elastic. c) the firm must lower price if it wishes to sell more output. d) the firm can sell all of its output at any price.

Sagot :

For a monopoly, marginal revenue is less than price because c) the firm must lower price if it wishes to sell more output.

A company with a monopoly is one where its product is sold exclusively and there are no close substitutes. Unrestrained monopolies have the ability to set prices and exercise market power.

Monopolies may result in significant scale economies. A business that has the exclusive right to manufacture a specific kind of product might be able to do so in large volumes and at a reduced cost per item. This affordable pricing might be passed on to the customer, depending on the company's ethics.

Learn more about Monopolies here:

https://brainly.com/question/13939056

#SPJ4

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.