Unlike firms in perfect competition, monopolists have control over
A) the costs of production
B) what technology to use
C) what price to charge
D) how much to produce
E) the choice of plant size

Question

Quizplus · Accepted Answer

Monopolists have control over the price they charge because they are the sole supplier of a product with no close substitutes, allowing them to set prices above marginal cost.

Unlike Firms in Perfect Competition, Monopolists Have Control Over