Which of the following would definitely not be used by any unregulated monopolist?
A. Economies of scale.
B. Marginal cost pricing.
C. Price discrimination.
D. The profit-maximizing rule.
Answer: B
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If Jose deposits $2,000 in his bank and the desired reserve ratio is 10 percent, what is the amount of new loans that the bank can make?
A) $2,000 B) $200 C) $1,800 D) $1,900 E) $2,200
Which of the following are ways to ration goods and services?
A) price B) physical force C) political power D) All of the above are correct.
The value of cross-price elasticity of demand between orange soda and grape soda is
a. negative b. positive c. 0 d. between -1 and 0 e. less than -1
Which of the following statements about the classical model of the economy is FALSE?
A. Wages and prices are flexible. B. The economy will always move toward, or be at, full employment. C. Savings and investment will always be equal. D. Individuals pursue the public interest, not their own self-interest.