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1. Which of the following statements is (are) true of a monopoly? (11A monopoly can choose the price it sells at. (ii) A monopoly's total

1. Which of the following statements is (are) true of a monopoly? (11A monopoly can choose the price it sells at. (ii) A monopoly's total revenue will always increase when it increases the price of its product. (iii) A monopoly will earn unlimited profits. a. (9 only b. (ii) only c. (U and (ii) d. (ii) and (iii)

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