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describe why each of the following statements are false. For each, prepare the correct statement.

a. A monopolist maximizes profits when MC=P
b. The higher the price elasticity, the higher is a monopolist's price above its MC.
c. Monopolists ignore the marginal principle.
d. Monopolists will maximize sales. They will therefore produce more than perfect competitors and their price will be lower.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M940600

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