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Q. |
For a monopolist, marginal revenue is always less than price because |
A. | as output increases, the price of all units must fall to sell the additional unit |
B. | because at lower prices, profit margins fall |
C. | in order to sell additional quantities, the additional units much be sold at a lower price |
D. | because monopolist is a price maker |
Answer» A. as output increases, the price of all units must fall to sell the additional unit |
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