In the above figure, a monopolist will set its level of output and price at
A. Q1 and B, respectively.
B. Q1 and A, respectively.
C. Q3 and F, respectively.
D. Q2 and C, respectively.
Answer: B
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A claim on the net income and assets of a corporation is called:
a. an annuity. b. an initial public offering or IPO. c. a share of corporate stock. d. a dividend.
As the price level rises,
a. the exchange rate falls, so net exports fall. b. the exchange rate falls, so net exports rise. c. the exchange rate rises, so net exports fall. d. the exchange rate rises, so net exports rise.
Adding up all of the consumer and producer surpluses determines ______.
a. minimum alternative tax b. total welfare gains c. maximum deadweight loss d. optimal subsidy levels
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.