A monopoly firm can sell as much output as it wants at whatever price it sets.

Name: A monopoly firm can sell as much output as it wants at whatever price it sets.
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Question

Quizplus · Accepted Answer

While a monopoly has market power and can influence the price of its product, it still faces demand from consumers who may choose to buy less of its product if the price is set too high. Therefore, a monopoly firm cannot sell as much output as it wants at whatever price it sets.

A Monopoly Firm Can Sell as Much Output as It