A Monopolist Who Owned the Entire Supply of a Scarce

Multiple Choice

A monopolist who owned the entire supply of a scarce resource would set a price

A) at about the competitive level.
B) lower than the competitive level.
C) higher than the competitive level but lower than what a monopoly producer of a non-scarce good would.
D) above that which would be chosen by a monopoly producer of a nonscarce good.