If an increase in price from $1.20 to $2 per unit leads to an increase in quantity supplied from 20 to 100 units,

"A single-price monopoly will always charge a price that is on the elastic range of the demand for the monopoly's output." Explain why the previous statement is correct or incorrect

What will be an ideal response?

In a natural monopoly, throughout the range of market demand

A) marginal cost is above average total cost and pulls average total cost upward. B) marginal cost is below average total cost and pulls average total cost downward. C) there are diseconomies of scale. D) average total cost is above marginal cost and pulls marginal cost upward.