Which statement is not true of monopolists?
a. Compared to perfect competitive firms, monopolists reduce consumer surplus.
b. Compared to perfect competitive firms, monopolists restrict output.
c. When monopolists perfectly price discriminate they restrict output more than when they single price their product.
d. Natural monopolies are characterized by falling ATC over a large range of output.
Answer: c. When monopolists perfectly price discriminate they restrict output more than when they single price their product.