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A major difference between a single-price monopolist and a perfectly competitive firm is that the: a) monopolist can maximize profit by setting the price of the output where demand is inelastic

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A major difference between a single-price monopolist and a perfectly competitive firm is that the:

a) monopolist can maximize profit by setting the price of the output where demand is inelastic.

b) monopolist can always increase its profits by increasing the price of its output.

c) monopolist's marginal revenue is less than price.

d) monopolist is guaranteed to earn an economic profit.