Figure 15-3 Figure 15-3 Above Shows the Demand and Cost Curves Facing

question 232

Multiple Choice

Figure 15-3

Figure 15-3 above shows the demand and cost curves facing a monopolist.
-Refer to Figure 15-3.What happens to the monopolist represented in the diagram in the long run, if costs and demand stay the same?

• A)It will raise its price at least until it breaks even.
• B)If the cost and demand curves remain the same, it will exit the market.
• C)The government will subsidize the monopoly to enable it to break even.
• D)It will be forced out of business by more efficient producers.

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Definitions:

Endocrine System

A collection of glands that produce hormones which regulate metabolism, growth and development, tissue function, sexual function, reproduction, sleep, and mood, among other things.

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The brain’s special capacity for change.

Complexity

The state or quality of being intricate or complicated, involving numerous interrelated parts or aspects.

Resting Potential

The stable, negative charge of an inactive neuron.