In a monopoly firms are called quot;price makersquot; because: they are so small that they must accept any reasonable offer from consumers for…

In a monopoly firms are called “price makers” because: a. they are so small that they must accept any reasonable offer from consumers for their outputs. b. they are able to affect the market price. c. they are unable to sell their products at any price above the market price. d. the firms are large relative to the size of the industry.

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