Which of the following statements are correct?
A. A monopolist can charge any price to maximize profits.
B. The slope of monopoly's MR curve is twice that of AR curve.
C. A necessary condition for monopoly's long-run equilibrium is AC = AR = MC = MR.
D. A monopolist is in equilibrium where MC = MR.
E. Equilibrium price of a monopolist is always higher than that of a competitive firm.
Choose the correct answer from the options given below:
1
A, B and C only
2
B, C and D only
3
B, D and E only
4
C, D and E only