If a Single Supplier Produces a Good with Many Good

question 62

Multiple Choice

If a single supplier produces a good with many good substitutes, then:

• A) it will have little control over the market price.
• B) the demand curve for its output will be downward sloping.
• C) the price it chooses to set must be less than the market price in order to sell additional output.
• D) the market demand will be perfectly elastic.

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