Let P Be the Output Price for a Particular Good

Multiple Choice

Let P be the output price for a particular good. Why is the value P*MP_L greater than MRP_L for a monopolist?

A) The monopolist is not as technically efficient as firms operating under perfect competition.
B) The monopolist hires less labor, so MP_L is higher under a monopoly than under perfect competition.
C) The monopolist sets a price that is higher than MR.
D) A and C are correct.
E) B and C are correct.