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Monopolistic firm can fix:

A. Both price and output

B. Either price or output

C. Neither price nor output

D. None of the above

Correct Answer : B.


Monopolist is a price maker and has a control over the market supply of goods. But it does not mean that he can set both price and output level. A monopolist can do either of the two things i.e. price or output. It means he can fix either price or output but not both at a time.}

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