A monopolist
A. faces an upward sloping demand curve.
B. faces a vertical demand curve.
C. is a price searcher.
D. is a price taker.
Answer: C
You might also like to view...
The supply curve for the pure monopolist is upsloping.
Answer the following statement true (T) or false (F)
Which firm would you expect to make the lowest profits, other things equal?
A. Bertrand oligopolist B. Sweezy oligopolist C. Stackelberg leader D. Cournot oligopolist
Referring to Figure 1.8, if a point is attainable, it is in 
A. AREA #1 or is on the curve. B. AREA #2 but not on the curve. C. AREA #2 or is on the curve. D. AREA #1 but not on the curve.
All else constant, if butter and margarine are substitute goods, then as the price of butter rises,
a. the demand for margarine will fall b. the quantity of butter demanded will fall c. the demand for butter will fall d. the demand for butter will rise e. butter and margarine will become complementary goods, provided that butter is a normal good