If a monopoly wants to sell a greater quantity of output, it must
A) lower its price.
B) raise its price.
C) tell consumers to buy more because it's a monopolist.
D) raise its marginal cost.
E) change its fixed costs.
A
Economics
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The market process is
A) governmental. B) institutional. C) dynamic. D) all of these choices.
Economics
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pencils (using the initial value formula) is:
A. 1. B. 0.4. C. 0.2. D. -0.2.
Economics