For a monopolist, price is _____ marginal revenue. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices less than greater than set by the government at a level equal to equal to

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14-06-2022
Business

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For a monopolist, price is _____ marginal revenue. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices less than greater than set by the government at a level equal to equal to

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rahulsharma789888 rahulsharma789888 · Answer 1 · 2022-06-24T04:55:41+02:00

Because changes in output quantity affect price, marginal revenue for a monopolist is not equal to price. hence the price is greater than option B

What is a Monopolist market?

A market is said to be monopolistic if just one business is allowed to sell goods and services to the general public. A totally competitive market, where there are an infinite number of enterprises operating, is the antithesis of a monopolistic market.

In a truly monopolistic model, the monopoly firm can limit output, raise prices, and make long-term profits that are above average.

Hence option B is Greater than is correct.

Learn more about the Monopolist market:

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