If a monopolist decides to charge a higher price for its product, it will yield:
A) a lower revenue per unit sold but a higher number of units sold.
B) a lower revenue per unit sold and a lower number of units sold.
C) a higher revenue per unit sold but a lower number of units sold.
D) a higher revenue per unit sold and a higher number of units sold.
C
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When the absolute price elasticity of demand equals 1, demand is
A) elastic. B) unit-elastic. C) inelastic. D) undetermined without more information.
The Prime Directive says look to
A) the market. B) the government. C) competitors. D) all of these choices.
If Julia deposits $2,000 (which she has until now kept in her closet as cash) in her savings account, then the M1 money supply will decrease
a. True b. False Indicate whether the statement is true or false
Economists generally prefer greater effort made to force internalization of externalities through taxes rather than using alternative approaches, such as establishing pollution standards
a. True b. False Indicate whether the statement is true or false