Which statement is NOT correct?    a. Monopolists charge higher prices than do competitive firms.  b. Monopolists always earn a positive economic profit, whereas competitive firms may incur losses. c. Monopolists are price makers; competitive firms are price takers.  d. Monopolists tend to be inefficient because they do not face the same market pressures as competitive firms.

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A: Non-merger :- Merger :-

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A: Given MR = 20 – q MR = 20 – 2q MC = AVC = ATC = 6 $

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A: Monipolist is a single seller in the market selling unique good.

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A: Following are the given data: Output = 500 units Price = $70 Total cost = 15000

Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.