Suppose a monopolist and a perfectly competitive firm have the same cost curves. The monopolistic firm would:
a. charge the same price as the perfectly competitive firm.
b. refuse to operate in the short run unless an economic profit could be made.
c. charge a higher price than the perfectly competitive firm.
d. charge a lower price than the perfectly competitive firm.
c
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A reduced demand for lawyers' services to prosecute damage suits
A) lowers the cost of hiring a lawyer to draw up a will. B) raises the cost of hiring a lawyer to draw up a will. C) raises the demand for lawyers' services in drawing up wills. D) will not affect the cost of hiring a lawyer to draw up a will though it could affect lawyers' fees.
The European Union is the oldest, largest, and most ambitious integration agreement in the world today
Indicate whether the statement is true or false
Which of the following is not held constant when moving along a product's demand curve? a. The price of the product itself
b. The expected price of the product in the near future. c. Income. d. Prices of complementary goods. e. Prices of substitutes.
While targeting the deficit, which of the following is likely to occur after a negative aggregate demand shock?
A. AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y? B. AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y? C. AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y? D. AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y?