Question

Assertion (A): Monopolist is a price maker.

Reasoning (R): Monopolist can fix the price of his own product as he controls the whole market supply.

Options

• (A) is True but (R) is False.

• (A) is False but (R) is True.

• Both (A) and (R) are True and (R) is the correct explanation of (A).

• Both (A) and (R) are True and (R) is not the correct explanation of (A).

Answer 1

Both (A) and (R) are True and (R) is the correct explanation of (A).