12. Monopoly
Monopoly Revenue
Multiple Choice
Multiple ChoiceWhich of the following statements is true?
A
A monopolist's demand curve is more elastic than the market demand curve.
B
For a monopoly, an increase in the quantity sold will always increase total revenue.
C
The barriers to market entry in perfect competition are similar to those for a monopoly.
D
A monopoly's marginal revenue is less than its average revenue.
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