In a monopoly market, how does marginal revenue compare to the price of the product?

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It is less than the price for every unit except the first oneIt is lower than price at small output levels and higher than price at large output levelsIt is consistently higher than the priceIt remains equal to the price at all output levelsIt equals the average revenue for all units sold

Explanation

In a monopoly, marginal revenue falls below the price for all units sold after the first one because the monopolist must reduce the price to sell additional units. Therefore, marginal revenue is always less than the price except for the initial unit sold.