2. Monopolies are price-makers. That means that a monopoly

a. knows it has no influence over price even though it faces a downward-sloping demand curve.

b. can charge any price, and at that price maximize profit by choosing output correctly.

c. has the ability to choose among price and output combinations.

d. can choose its price, and consumers will be forced to buy at that price because the monopoly has no competitors.

e. can force other firms in the industry to sell at the price chosen by the monopoly.