Which of the following statement(s) is/are true? I: A monopoly is a price maker, whereas a competitive firm is a price taker. Il: The supply curve for both the single price monopoly and the competitive firm is given by their marginal cost (MC) curve where MC > Average Variable Cost. Ill: The marginal revenue for a single-price monopolist is always equal to the price. Both I and II are true. O Both I and ll are false. O Only I is true. Only II is true. O Both I and Ill are true