Which of the following is true of the monopolist?

A. his average revenue curve is horizontal
B. He determines both price and output
C. his demand and marginal revenue curve are the same
D. he determines either price or output

Correct Answer: Option B

B. He determines both price and output

Explanation

Monopoly refers to a market situation where there is only single seller of a commodity and there are no close substitutes of that commodity. the following are features of a monopolist