All of the following statements,except one,are true about a monopolist.Which is the exception?
A)The monopolist can determine the price,but the market will determine the quantity purchased.
B)The monopolist can determine the quantity offered for purchase but the market will determine the price.
C)The monopolist can determine both the quantity offered for purchase and the price.
D)The monopolist faces a downward-sloping market demand curve.

Question

Quizplus · Accepted Answer

A monopolist can set the price or the quantity of the product, but not both simultaneously. The market's demand curve determines the other variable. Statement C is incorrect because it suggests a monopolist can set both price and quantity independently, which is not possible due to the market's demand constraints.

All of the Following Statements,except One,are True About a Monopolist