Question: Suppose a monopolist correctly adjusts output to that level at which marginal cost is equal to marginal revenue. What would happen if a. The firm

Suppose a monopolist correctly adjusts output to that level at which marginal cost is equal to marginal revenue. What would happen if
a. The firm priced the product at a price below the average revenue?
b. The firm priced the product at a price above the average revenue?

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