"The decision to employ an additional unit of labor depends on whether the value of marginal product is greater than or smaller than the wage rate." Is the previous statement correct or incorrect?

A natural monopoly that is not regulated will choose to produce at the

A) minimum point of the long-run average cost curve. B) point at which marginal cost is above average total cost. C) point at which the demand curve intersects the long-run average cost curve. D) point at which marginal revenue equals marginal cost.

In order to sell more output units, what must a monopoly do?

A) reduce output price B) reduce input price C) increase output price D) increase input price