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27 February, 08:11

A monopoly A. doesn't lose any sales when it raises its price. B. is a price taker. C. produces the market output. D. must have a patent to protect its products

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  1. 27 February, 10:26
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    Answer: Produces the market output

    Explanation: In a monopoly market structure, there is one seller fulfilling the market demand, hence a monopolist is a price maker. However, the law of demand still operates in such a structure, restricting the monopolist to charge unreasonable prices.

    Hence the monopolist maximizes his profit by supplying the output at the market level.

    Thus, from the above we can conclude that the right option is C
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