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Price (demand) exceeds marginal revenue for the pure monopolist because: A) the law of diminishing returns doesn't apply. B) the demand curve lies below the
Price (demand) exceeds marginal revenue for the pure monopolist because:
A) the law of diminishing returns doesn't apply.
B) the demand curve lies below the marginal revenue curve.
C) the monopolist produces a smaller output than would a purely competitive firm.
D) the demand curve is inelastic.
E) to sell more the monopolist must lower its price.
CHOOSE ONE
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