A Single-Price Monopolist

question 475

Multiple Choice

A single-price monopolist

• A) sets its price where its demand is inelastic.
• B) can always increase its profits by increasing its price.
• C) has its marginal revenue less than its price.
• D) is guaranteed an economic profit.

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Definitions:

Physical Intimidation

The use of threats, presence, or actions that instill fear in individuals, often employed to influence behavior or decisions without physical contact.

Strikes

A form of protest where workers refuse to work, aiming to pressure employers into meeting their demands regarding pay, conditions, or rights.

Boycotts

A method of protest where individuals refuse to buy goods from, or deal with, a company or country as a form of political pressure or social punishment.

Ethics of Liberty

Philosophical principles that emphasize personal freedom and the moral importance of respecting individual rights.