In equilibrium, which of the following conditions is common to both unregulated monopoly and pure competition?

Because a monopolist is the sole producer in its market, it can necessarily alter the price of its good

a. by adjusting the quantity it supplies to the market. b. by changing its marginal cost. c. without affecting its average total cost. d. without affecting the quantity sold.

When the price of petroleum increases, the supply of Question 27 options:

A. home heating oil increases. B. petroleum-based plastics increases. C. petroleum-based plastics decreases. D. airplane trips increases because of higher fuel costs. E. hydroelectric power decreases.