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Young Johnny inherited the only local cable TV company in town after his father passed away. The company is completely unregulated by the government...

Young Johnny inherited the only local cable TV company in town after his father passed
away. The company is completely unregulated by the government and is therefore free
to operate as it wishes. Assuming that Johnny understands the true power of his new
monopoly, he is probably most excited about which of the following statements?
(i) He will be able to set the price of cable TV service at whatever level he wishes.
(ii) The customers will be forced to purchase cable TV service at whatever price he
wants to set.
(iii) He will be able to achieve any profit level that he desires.
a. (i) only
b. (ii) only
c. (i) and (iii)
d. All of the above are correct.

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