Price and output both
Neither price nor output
Neither price or output
None of the above
Answer is Wrong!
Answer is Right!
The correct answer is (a). A monopolist can determine both price and output. A monopolist is the only seller of a good or service in a market. This means that they have a great deal of market power and can set prices without fear of competition. They can also choose how much output to produce. This gives them a lot of control over the market and can lead to higher prices and lower output for consumers.
Option (b) is incorrect because a monopolist can determine price. Option (c) is incorrect because a monopolist can determine output. Option (d) is incorrect because a monopolist can determine both price and output.