Which of the following is NOT true regarding monopoly?
A) Monopoly is the sole producer in the market.
B) Monopoly price is determined from the demand curve.
C) Monopolist can charge as high a price as it likes.
D) Monopoly demand curve is downward sloping.
C
Economics
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If the natural unemployment rate is 5.5 percent, then the economy is at long-run equilibrium when the actual unemployment rate is
A) more than 5.5 percent. B) between 0 and 5.5 percent. C) 0 percent. D) 5.5 percent. E) none of the above
Economics
Economists usually assume that ________ is a fixed input in the ________ run.
A. labor; short B. capital; short C. capital; long D. labor; long
Economics