In a monopoly,price is greater than marginal cost.

Name: In a monopoly,price is greater than marginal cost.
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In a monopoly, the firm has market power and has the ability to set the price higher than the marginal cost in order to maximize profits. This is because there are no close substitutes available in the market for the product, and the demand is relatively inelastic. As a result, the monopoly firm can charge a higher price without losing a substantial number of customers to its competitors.

In a Monopoly,price Is Greater Than Marginal Cost