Which of the following is true about a monopoly?
a. A monopoly charges a higher price and produces a lower output level than if the market were competitive.
b. A monopoly is guaranteed an economic profit.
c. A monopoly charges the highest possible price.
d. A monopoly will shut down whenever losses are incurred.
e. All of these.
a
Economics
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If a country's GDP increases and all other variables remains constant, ________
A) its income per worker will increase B) its income per capita will fall C) its GNP will fall D) its trade surplus will increase
Economics
What is an oligopoly? Give two examples of oligopolistic industries in the United States
What will be an ideal response?
Economics