A monopoly is likely to charge a higher price than an otherwise similar competitive industry would be
a. True
b. False
A
You might also like to view...
Price will always exceed marginal cost for the profit-maximizing monopolist, or any price-setter firm for that matter
Indicate whether the statement is true or false
Which of the following could increase the supply of dollars in the foreign exchange market?
a. a lower inflation rate in foreign countries than in the U.S. b. lower interest rates in foreign countries than in the U.S. c. higher prices in the United States d. a depreciation of other currencies e. an appreciation of the dollar
Tampering with the price mechanism
a. can be efficient for a while. b. cannot be attempted in a market economy. c. can enhance societal welfare if done properly. d. often produces undesired side effects.
If price were $12, there would be _____ (shortage or surplus) of about _____.
