Assume someone organizes all farms in the nation into a single-price monopoly. What is the monopoly's marginal revenue curve?
A) It is a horizontal line at the competitive industry's price.
B) It is a line that lies below the new monopoly's demand curve.
C) It is a vertical line at the monopoly's chosen output level.
D) It is identical to the demand curve for the monopolist's output.
E) It is a line that lies above the new monopoly's demand curve.
B
Economics
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