For a single-price monopolist that is maximizing profit, the price is
A) less than marginal revenue.
B) equal to marginal revenue.
C) equal to marginal cost.
D) greater than marginal cost.

Question

Quizplus · Accepted Answer

A single-price monopolist maximizes profit by setting a price greater than marginal cost, as it has market power to set prices above the competitive level.

For a Single-Price Monopolist That Is Maximizing Profit, the Price