For a monopoly, marginal revenue is less than price because
A) the demand for the firm's output is downward sloping.
B) the firm has no supply curve.
C) the firm can sell all of its output at any price.
D) the demand for the firm's output is perfectly elastic.
A
Economics
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a. A boom period b. A peak c. An inflation d. A contraction e. A trough
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