If the demand shifts, then for a profit maximizing monopolist,
A) price will change while quantity will remain constant.
B) price will change and quantity will change.
C) Both A and B.
D) Neither A nor B.
C
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The First Continental Congress met in September and October of 1774 and listed several complaints against the British government, including
(a) an objection not to the Navigation Acts but to the taxation without consent. (b) the argument that they were entitled to all the rights of British citizenship. (c) the demand that virtually all of the laws passed by Britain on the colonies since 1763 be repealed. (d) all of the above.
As opposed to general-equilibrium analysis, partial equilibrium analysis looks
A) at an equilibrium and changes to it in a single, isolated market. B) at how changes in one market effect other markets. C) at how equilibrium is determined in all markets simultaneously. D) at either price or quantity movements.