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Monopoly

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Which of the following is false?
a. A monopolist will sell less at a higher price.
b. A monopolist will produce where MR = MC.
c. A monopolist has a marginal revenue that is less than the price.
d. A monopolist is a price taker.

A monopoly will usually produce
a. where its demand curve is elastic.
b. where its demand curve is inelastic.
c. only when its demand curve is perfectly inelastic.
d. where its demand curve is either elastic or inelastic.

Monopoly is characterized by
a. non-price competition not necessary.
b. market entry and exit difficult or impossible.
c. unique products.
d. All of the above
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