If the Entire Output of a Market Is Produced by a Single

question 95

Multiple Choice

If the entire output of a market is produced by a single seller,the firm

• A)Is a monopoly.
• B)Faces perfectly inelastic demand.
• C)Can charge any price it wants and not lose customers.

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Definitions:

Discriminating

Showing refined judgment or refined taste, able to discern subtle differences; in some contexts, it may refer to prejudicial or unfair differentiation.

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The phenomenon of increased average lifespan in a population due to improvements in healthcare, nutrition, and lifestyle.