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Because a monopolist must lower its price in order to sell another unit of output, a. marginal revenue is less than price. b. long-term economic profits will be zero. c. total revenue increases as price
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Because a monopolist must lower its price in order to sell another unit of output,

a. marginal revenue is less than price.
b. long-term economic profits will be zero.
c. total revenue increases as price increases.
d. average revenue is less than price.

User David Leedy
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4 votes

Answer:

A. marginal revenue is less than price.

Step-by-step explanation:

User Joppo
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