A change in the price of a product will change the supply of that product

Which of the following statements about a monopoly is FALSE?

A) Monopolies have no barriers to entry or exit. B) The good produced by a monopoly has no close substitutes. C) A monopoly is the only producer of the good. D) None of the above; that is, all of the above answers are true statements about a monopoly.

At an equilibrium price: a. quantity demanded exceeds quantity supplied. b. quantity demanded equals quantity supplied

c. quantity demanded is less than quantity supplied. d. there is no scarcity.