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Which of the following statements is true? -

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Question

Which of the following statements is true?

Options

  • A monopoly selects a higher price and lesser quantity of output than a price-taking company.

  • A monopoly selects a lower price and lesser quantity of output than a price-taking company

  • A monopoly selects a higher price and more quantity of output than a price-taking company.

  • A monopoly selects a higher price and lesser quantity of output than a price-making company.

MCQ

Solution

A monopoly selects a higher price and lesser quantity of output than a price-taking company.

Explanation:

There is only one seller in a monopoly situation, suggesting that the price structure is independent of any other enterprise in the market.

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