Suppose a lazy monopolist\'s fixed costs are higher than the fixed costs of an e

Question

Suppose a lazy monopolist's fixed costs are higher than the fixed costs of an efficient monopolist. In all other respects the monopolists are the same. Which of the following statements about this lazy monopolist is true?

A. It charges a higher price than the monopolist producing efficiently.
B. It charges a lower price than the monopolist producing efficiently.
C. It produces fewer goods than the monopolist producing efficiently.
D. It set price and quantity the same as the monopolist producing efficiently.

Explanation / Answer

C

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