The monopolist is always constrained by:
A. the amount demanders are willing to buy at any given price.
B. his production capacity.
C. the barriers to entry.
D. government regulation.
A. the amount demanders are willing to buy at any given price.
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Explain why large interest rate differences would be strong evidence of unrealized gains from trade
What will be an ideal response?
Which of the following agencies has established standardized accounting principles for reporting corporate earnings?
A) The Securities and Exchange Commission B) The Federal Trade Commission C) The National Accounting Board D) The Fair Reporting Commission
Positive statements can contain
A) opinions and conditions. B) facts and predictions. C) a mixture of facts and opinions. D) logical arguments mixed with statements of opinion.
When the market for a good is in equilibrium,
a. consumer surplus will equal producer surplus. b. the total value created for consumers will equal the total cost of production for business firms. c. all units valued more highly than the opportunity cost of production will be supplied. d. all units that have value will be produced, regardless of their cost of production.