In maximizing profits (or minimizing loss), a single-price monopolist will charge a price that is greater than the marginal cost.
<h3>Who is a monopolist?</h3>
A monopolist is usually a term used to refer to a business entity that solely controls the market of a certain product or service without any competitor. In the case of a single-price monopolist, if they charge a price that is greater than marginal cost is the most viable option to maximize profit.
