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.
Answer: A
Economics
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Assume that M is $200 billion and V is 6. If V increases by 15 percent, then, according to the monetarist equation, nominal GDP will have increased by:
A. $140 billion B. $180 billion C. $220 billion D. $260 billion
Economics
Which of the following would not affect an individual's demand curve?
a. expectations
b. income
c. prices of related goods
d. the number of buyers
Economics