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For a monopoly, price exceeds marginal revenue because: Athe firm has to charge a price higher than the marginal cost of producing the last unit.

For a monopoly, price exceeds marginal revenue because:

Athe firm has to charge a price higher than the marginal cost of producing the last unit.

Bany decision by the monopolist to sell an additional unit of output does not affect price.

Cthe firm has to reduce price on all units sold in order to sell an additional unit.

Dof the law of diminishing returns.

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