Which of the following statements is false?
A)The monopolist has the ability to control to some degree the price of the product it sells.
B)The monopolist faces a downward-sloping demand curve.
C)The monopolist is a price taker.
D)The monopoly firm is the industry.

Question

Quizplus · Accepted Answer

A monopolist is not a price taker but rather a price maker, meaning it has the power to set the price of its product because it does not face competition from other firms in its market. This contrasts with firms in perfectly competitive markets, who are price takers and must accept the market price.

Which of the Following Statements Is False