When a Monopolist Increases the Number of Units It Sells

question 350

Multiple Choice

When a monopolist increases the number of units it sells, there are two effects on revenue. They are the

• A)demand effect and the supply effect.
• B)competition effect and the cost effect.
• C)competitive effect and the monopoly effect.
• D)output effect and the price effect.

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Definitions:

Migration Movement

The process of movement by people from one place to another with the intentions of settling, permanently or temporarily, at a new location.

Persuasion

The act of influencing someone's beliefs, attitudes, or behaviors through communication, without coercion.

GDP

Gross Domestic Product; a monetary measure of the market value of all final goods and services produced in a country during a specific period.