Teenager Kylian Mbappe scored the victor as Monaco beat Lyon to return to the top of Ligue 1 on Sunday.
Falcao and Mbappe fired Monaco into a two-goal lead with goals in the last 10 minutes of the first half, and although Lucas Tousart pulled one back for the hosts early in the second half, they rarely anxious Leonardo Jardim's men.
Manchester City have already balked at the £100million asking price for the 18-year-old, who has 21 goals in 25 appearances this season.
Wenger revealed last month that the Gunners had an offer turned down for Mbappe last summer but it appears the 67-year-old remains interested in the Frenchman.
"It wasn't easy and it was a big win for us tonight", Monaco center half Andrea Raggi said.
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In-demand French wonderkid Kylian Mbappe does NOT want to leave Monaco this summer, according to their vice president. So we have two conditions: "one, to keep them, and two, bring in other great players".
Monaco, who have reached the Champions League final four, went ahead in the 36th minute when Falcao headed home from six metres in a packed area.
While Jardim is expected to make wholesale changes for Monaco, PSG will be without Javier Pastore - hurt in Saturday's 2-0 win over Montpellier - and likely Adrien Rabiot in midfield. I can already tell you that Monaco will have a very competitive next season'.
Earlier Sunday, Mario Balotelli started on the bench as Nice's own faint title hopes were all but extinguished in a 1-1 draw at mid-table Toulouse. However, Toulouse's lead only lasted three minutes, as Valentin Eysseric collected Jean Seri's corner to smash it into the net. All was not smooth sailing; after fans tried to force themselves into the stadium, the game had to be briefly halted during the first half, and restarted after police removed the fans.
The principality side are top of Ligue 1 and face the Bianconeri in the Champions League semi-finals, so will rotate heavily for the cup semi-final against Paris Saint-Germain.
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