If Pizza Used to Be Produced in a Competitive Price-Taker

question 184

Multiple Choice

If pizza used to be produced in a competitive price-taker market, and now the pizza market has become a monopoly, we can expect

• A) less pizza to be sold at a higher price.
• B) more pizza to be sold at a higher price.
• C) less pizza to be sold at a lower price.
• D) more pizza to be sold at a lower price.
• E) the same amount of pizza to be sold at the same price.

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Definitions:

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