It is true in monopoly pricing that the
a. sky is not the limit.
b. market cannot impose a price on a monopolist.
c. monopolist is a price maker.
d. All of the above are correct.
d
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An expansion is:
A. the high point of economic activity prior to a downturn. B. the low point of economic activity prior to a recovery. C. a period in which the economy is growing at a rate significantly below normal. D. a period in which the economy is growing at a rate significantly above normal.
The Herfindahl index would be 5000 if the only two firms in an industry have equal market shares
a. True b. False
Which of the following is true of the demand curve faced by a monopolist?
a. A monopolist's demand curve is infinitely elastic b. A monopolist's demand curve is more elastic than a competitive firm's demand curve. c. A monopolist faces a relatively inelastic demand curve. d. A monopolist's demand curve coincides with its marginal revenue curve. e. A monopolist faces a positively sloped demand curve.
Explain how the terms of trade index is calculated and what it means