A monopolistic firm
A) will never sell a product whose demand is inelastic at the quantity sold.
B) can sell as much as it wants for any price it determines in the market.
C) cannot determine the price, which is determined by consumer demand.
D) cannot sell additional quantity unless it raises the price on each unit.
E) will always earn a profit in the long run.
A
You might also like to view...
What are the 5 steps generally used by economists to develop a model?
What will be an ideal response?
When the economy is in macroequilibrium, unintended investment
a. is positive b. is negative c. equals saving d. is zero e. equals intended investment
Grapes are considered intermediate goods
a. whether the purchaser uses them to make wine to sell or eats them. b. if the purchaser uses them to make wine to sell others but not if the purchaser eats them. c. if the purchaser eats them, but not if the purchaser uses to them to make wine to sell. d. None of the above is correct.
William Jennings Bryan, Secretary of State at the time of the passage of the Federal Reserve Act, argued in favor of having ______ district banks
A) six B) not less than eight nor more than twelve C) twelve D) fifty