Compared to perfect competition, monopolies charge
a. a lower price.
b. a higher price.
c. the same price.
d. a higher or lower price, depending on the monopoly.
b. a higher price
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Suppose India and France have the same PPF, shown in the figure above. Based on their current production points, which is India's most likely future PPF?
A) PPF1 B) PPF2 C) PPF0 D) either PPF0 or PPF1 E) None of the above because economic growth will not happen in India.
The less foreigners demand U.S. products:
a. the more of their currencies they will supply in exchange for U.S. dollars. b. the more of their currencies they will demand in exchange for U.S. dollars. c. the less of their currencies they will supply in exchange for U.S. dollars. d. the less of their currencies they will demand in exchange for U.S. dollars.