Which of the following is always true for a single-price monopolist? A) P MR B) P

Question

Which of the following is always true for a single-price monopolist?
A) P > MR
B) P < MR
C) P = MR
D) P = elasticity of demand
E) None of the above answers is correct because none of them is always true.

Quizplus · Accepted Answer

In a single-price monopoly, the price (P) is always greater than marginal revenue (MR) because the monopolist must lower the price for all units sold to sell an additional unit, leading to a marginal revenue that is less than the price.

Which of the Following Is Always True for a Single-Price