Entry causes ____ to increase and a firm's demand curve to ____
A) quantity supplied, fall.
B) supply, rise
C) supply, fall.
D) demand, rise.
C
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A public utility, such as a water company, is an example of a
a. technological monopoly b. geographic monopoly c. natural monopoly d. government monopoly
A monopolist produces in the elastic segment of its demand curve because when it lowers the price
A) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue increases. B) the percentage change increase in quantity demanded is less than the percentage change decrease in price and total revenue increases. C) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue decreases. D) the percentage change decrease in quantity demanded is less than the percentage change decrease in price and total revenue increases.