Answer:
C) price exceeds marginal cost.
Explanation:
A monopoly is when there is only one firm operating in an industry. there is usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is an utility company
Because the demand curve is downward sloping, marginal revenue is less than price. As prices fall, more units of the product is bought.
