A monopoly is
A) a price taker.
B) able to ignore the demand for its product when setting its price.
C) able to set the price for its product.
D) able to earn only a normal profit in the long run.
E) a firm with no marginal revenue curve.
C
Economics
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a. True b. False Indicate whether the statement is true or false
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If companies from foreign countries build and operate factories in China, then China's productivity
a. and the wages of Chinese workers increase. b. increases but the wages of Chinese workers decrease. c. decreases but the wages of Chinese workers increase. d. and the wages of Chinese workers decrease.
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