If a profit-maximizing monopolist faces a downward-sloping market demand curve, what do we know?
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Question

If a profit-maximizing monopolist faces a downward-sloping market demand curve, what do we know?Select one:

a. Its average revenue is less than the price of the product.

b. Its average revenue equals marginal revenue.

c. Its marginal revenue equals total revenue.

d. Its marginal revenue is less than the price of the product.

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Step-by-step explanation

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