A uniform price monopolist's marginal revenue will always be less than market price except for the first unit sold. This is because:
a. There are substantial startup costs and other barriers to entry.
b. Demand and marginal revenue have an inverse relationship
c. Because monopolist always have higher production costs than other types of firms or industries.
d. The monopolist must reduce the price of all units of output, not just an additional unit, in order to increase sales.
b. Demand and marginal... View the full answer