Unlike firms in a perfectly competitive industry, monopolists have control over
a. the price they charge for the product
b. the quantity of output they produce
c. the prices they pay for resources
d. the quantities of various resources which are used
e. improvements in technology
A
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How could the existence of an unemployment insurance system or other transfer programs have reduced the severity of the Great Depression?
What will be an ideal response?
The United States was unable to maintain its dominance in the production of televisions because:
A. the highly technical skills necessary to produce televisions are greater in other countries. B. the product designs evolved too rapidly for engineers in the United States to keep up. C. automated techniques allowed production to be outsourced to countries with less-skilled workers. D. the raw materials necessary to build televisions became scarce in the United States.