Explain why each of the following statements are false. for, Ask an Expert

Economics

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.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M940600

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