Choose the false statement. 1) Patents are a reason for monopolies to exist. 2) Network effects must be present for natural monopolies to exist. 3) the profit-maximizing monopolist sets its price as a percentage markup over the marginal cost. 4) If the monopolist tries to sell one more unit, it faces a positive price effect and a negative quantity effect. 5) More than one statement are false. 6) All statements are true.

Q: Quantity Price Total Revenue $35 $64 1 2 3 4 5 6 7 8 9 Q=4 Q=5 $35 Q=6 09-7 $29 $23 $17 $120 $99…

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