Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

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

We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.