Given a Monopolist Is the Sole Producer in a Market

question 149

Multiple Choice

Given a monopolist is the sole producer in a market, it is able to change the price of its product:
(i) without affecting the quantity sold
(ii) by adjusting the quantity it supplies to the market
(iii) but its profit could increase or decrease as a result

• A)(ii) only is true
• B)(i) and (ii) are true
• C)(ii) and (iii) are true
• D)(i) and (iii) are true

---

Definitions:

McCarren-Walter Act

A United States immigration law enacted in 1952, which revised and maintained the national origins quota system but also allowed for some relaxation of immigration restrictions.

American Citizenship

The status of being a citizen of the United States, entailing specific rights, duties, and privileges, including the right to vote and the right to live and work in the country.

Immigration Policy

Immigration policy encompasses laws, regulations, and procedures that govern who can enter a country, how long they can stay, and under what conditions they may reside, including provisions for seeking asylum, work, or permanent residency.

Quota-Based System

An immigration policy or practice that sets a fixed limit on the number of individuals who can migrate to a country from specific countries or regions.