1a. Which of the following statement(s) is(are) false?

A single-price monopolist is a price-taker and faces a downward sloping demand curve

A single-price monopolist restricts output to increase profits

A single-price monopolist generates the same total surplus as in perfect competition

a and b

a and c

1b. Which of the following statement(s) are true?

The total revenue of a single-price monopolist is minimized when demand is perfectly elastic.

A single price monopolist producing in the inelastic part of the demand curve could increase its total revenue by increasing the price.

A single-price monopolist that maximizes profits never produces in the inelastic part of the demand curve

a and b are true

b and c are true

1c.Which of the following statement(s) is(are) true?

Regulated natural monopoly can produce at a socially efficient scale.

Natural monopoly under average-cost pricing produces at an efficient scale

Natural monopoly under marginal-cost pricing generates a deadweight loss.

b and c are true

none of the above are true