Use the following two statements to answer this question:For a monopolist, at every output level, average revenue is equal to price.
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1.      Use the following two statements to answer this question:

   

I.   For a monopolist, at every output level, average revenue is equal to price.     

II. For a monopolist, at every output level, marginal revenue is equal to price.

A) I is true, and II is false.

B) I is false, and II is true.

C) Both I and II are true.

D) Both I and II are false.

E) Statements I and II could either be true or false depending upon demand

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