"Monopolists do not worry about efficient production and cost saving since they can just pass along any increase in costs to their consumers." Is this statement true? Explain your answer

This statement is not true. An increased cost, leading to an increase in price, will mean fewer sales, and thus lower profit. Alternatively, by reducing costs, a monopolist could increase its profit.

Economics

You might also like to view...

A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness

A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness.

Economics

What percentage of their spending do U.S. consumers allocate to food purchases?

A. 1 percent. B. 8 percent. C. 13 percent. D. 15 percent.

Economics