1. Briefly explain why the following statements are TRUE or FALSE:

   1. A monopolist produces the quantity at which MC = MR.

   2. A monopolist sets a price equal to MR.

   3. A monopolist faces a downward-sloping MR curve.

   4. A monopolist faces a perfectly elastic demand curve.

   5. A monopolist must lower price if it produces additional units.

   6. A monopolist is always able to price discriminate.

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1 True A monopolist produces the quantity at which MC MR Explanation The monopoly profitenhancing op... View the full answer