Answer:
C. charge a price greater than marginal cost charge a price greater than marginal cost
Step-by-step explanation:
- A monopoly exists when the person or the enterprise is the sole provider of the goods and commodities. The supplies have complete control of the market as they form a single entity.
- They are thus characterized by a lack of economic competition. Due to they are monopolies they change higher prices on the outputs rather than the average revenue. Hence are called price setters.