Identify the correct statement
a. A monopolist's pricing decision is limited by the demand for its product.
b. A monopolist is able to choose any price and quantity combination that it desires.
c. A monopolist can increase its profits by increasing price if the demand for its good is relatively elastic.
d. A monopolist does not suffer losses even in the short run.
e. A monopolist is not able to reap positive profits in the long run.
a
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President Eisenhower considered his main economic task as _______________.
Fill in the blank(s) with the appropriate word(s).
Interest is paid to
A) all holders of stock. B) individuals who own gold. C) owners of capital. D) borrowers of funds.
The following list of characteristics are true of the pharmaceutical industry, except one.
a. Low variable cost b. Virtually guaranteed profits when the product is introduced c. High fixed cost d. Exclusive rights to market and sell patented products e. Segmentable markets
If an individual's utility from consuming two goods increases, then there must be
A. in inward shift of the individual's indifference curve. B. an outward shift of the individual's indifference curve. C. a downward rotation of the individual's indifference curve. D. an inward rotation of the individual's indifference curve.