Chapter 15/Monopoly v 1077Chapter 15MonopolyTRUE/FALSE1.Monopolists can achieve any level of profit they desire because they have unlimited market power.ANS:FDIF:2REF:15-0NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive2.Even with market power, monopolists cannot achieve any level of profit they desire because they will sell lower quantities at higher prices.ANS:TDIF:2REF:15-0NAT:AnalyticLOC:MonopolyTOP:MonopolyMSC:Interpretive3.One characteri