Question: Briefly explain why the following statements are TRUE or FALSE: A monopolist produces the quantity at which MC = MR. A monopolist sets a price

  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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