Will a monopolist produce at a quantity that is higher than the long-run competitive equilibrium output level?
A. No, profit maximization for a monopoly always occur at a lower output level than in a competitive market.
B. Yes, the monopoly always produces at an output level larger than in a competitive market.
C. Yes, but only if it is a monopoly because it holds a patent.
D. There is no theory in microeconomics that states that a monopolist produces larger or smaller output than in a perfectly competitive firm in the long-run.
Answer: A
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