Monopolists can dictate the price or the quantity of the product they produce,but not both.
With no competitors,the monopolist has much more ability to sell its product on terms favorable to the company.

Question

Quizplus · Accepted Answer

This statement is true as monopolists can either set the price or quantity of the product they produce, but not both. With no competition, a monopolist has the power to set the price of the product and sell it on terms favorable to the company.

Monopolists Can Dictate the Price or the Quantity of the Product