Absent an ability to price discriminate, if a monopoly wants to sell more output, it must
a. raise its price
b. lower its price
c. increase barriers to entry
d. obtain government permission
e. negate its patent protection
B
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In the above figure, new expectations of booming business conditions and a higher expected profit will
A) shift the demand for loanable funds curve leftward. B) shift the demand for loanable funds curve rightward. C) have no effect on the demand for loanable funds curve. D) make the demand for loanable funds curve become horizontal.
The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
a. an increase in the equilibrium quantity of professional basketball b. a decrease in the equilibrium quantity of professional basketball c. a decrease in the price of professional basketball tickets d. a decrease in pro basketball players' salaries e. an increase in the price of professional basketball tickets but no change in game attendance