15. A perfectly competitive firm exhibits resource allocationefficiency, but the single-price monopolist does not. True or False? A. True B. False 16. Because the monopolist is a single seller of a product with no close substitutes, can it obtain any price for its good that it wants? A. yes, if he is the only producer, he can sell the product for whatever price he wants to. B. no, even a monopolist must find the right price to charge for its product even though he is the only seller. C. a monopolist is a price-taker and takes its price cues from the market place D. none of the above 17. When a single-price monopolist maximizes profits, price is greater than marginal cost. True or False? A. True B. False 18. Is there a deadweight loss if the firm produces the quantity of output at which price equals marginal cost? A. Yes, because this is true of a monopolist B. No, because this is true of a perfect competitor and with perfect competition there is no deadweight loss. C. Yes because perfect competitors create a deadweight loss to society that is of great value D. none of the above