A monopolist introduces a technological innovation that lowers the marginal cost and average cost of production. The price of the good and the level of output are most likely to change in which of the following ways:
A. P remains constant, Q remains constant
B. P remains constant, Q increases
C. P increases, Q decreases
D. P decreases, Q increases
E. P decreases, Q remains constant
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Home » Business » A monopolist introduces a technological innovation that lowers the marginal cost and average cost of production. The price of the good and the level of output are most likely to change in which of the following ways: A.