In monopoly:

A) a basic condition for efficiency is violated because P > MC.
B) consumers are confronted with a price that is lower than marginal cost.
C) consumers will buy more of the good than is economically efficient.
D) consumers are confronted with a price that is lower than average total cost.

Efficiency

The optimal allocation and use of resources to produce goods and services in the most cost-effective and waste-free manner.

P > MC

Indicates a scenario in price (P) is greater than marginal cost (MC), suggesting that a firm could potentially increase profits by increasing production since each additional unit produced costs less than the price it would sell for.

Monopoly

A market structure in which a single seller controls the entire market for a good or service, with no close substitutes.