Although a monopoly can charge any price it wishes, it chooses:
a. the highest price.
b. price equal to marginal cost.
c. the price that maximizes profit.
d. competitive prices.
e. a fair price.
c
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Rachel, a large pineapple producer in Hawaii, lobbies Congress to limit imports of pineapples in order to be able to sell her pineapples at a higher price and greatly increase her income. This possible source of income inequality is due to
A) globalization. B) technology changes. C) productivity differences. D) rent seeking.
The Embargo Act (1807):
a. partially opened up trade with some specific prohibitions. b. successfully forced England and France to ease their harassment of neutral ships. c. reduced U.S. imports, but increased U.S. exports. d. remained in effect until after the Civil War. e. None of the above are correct.