For a monopoly, marginal revenue is less than price because A the firm is a price taker B the firm must lower price if it wishes to sell more output C the firm can sell all of its output at any price D the demand for the firm's output is perfectly elastic

B the firm must lower price if it wishes to sell more output 

Explanation:

A monopoly is when there is only one firm operating in an industry.

The monopoly faces an elastic demand.

The demand curve of a monopoly is downward sloping.

When the price of a monopoly is greater than the marginal revenue, the monopoly should reduce the price in order to increase quantity sold and increase marginal revenue.

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