Can you help to solve this exercise THANKS
1. A monopoly faces :
a. A change in demand less proportional to a change in price.
b. A change in demand more proportional to a change in price.
c. A change in demand equal to a change in price.
Choose the correct one :
a. In monopoly the total revenue is defined by the price which depends on the quantities minus the quantities produced whereas in a situation of pure and perfect competition the revenue depends on the price and the quantities.
b. In monopoly the total revenue is defined by the price which depends on the quantities to which one associates the quantities produced whereas in situation of pure and perfect competition the revenue depends on the price and the quantities.
c. In monopoly the total revenue is defined by the price which depends on the quantities plus the quantities produced whereas in a situation of pure and perfect competition the revenue depends on the price and the quantities.