Question

Assertion (A): Monopolist is a price maker.
Reasoning (R): Monopolist can fix the price of his own product as he controls the whole
market supply
Options: 1) (A) is True but (R) is False
2) (A) is False but (R) is True
3) Both (A) and (R) are True and (R) is the correct explanation of (A)
4) Both (A) and (R) are True and (R) is not the correct explanation of (A)​

Answer 1

Answer:

1) (A) is true but (R) is false