The Most Profitable Price for a Monopolist Is

question 102

Multiple Choice

The most profitable price for a monopolist is

• A)the highest price a consumer is willing to pay for the monopolist's product.
• B)the price at which demand is unit elastic.
• C)a price that maximizes the quantity sold.
• D)found where the profit-maximizing quantity hits the demand curve.

---

Definitions:

Conspiracy Doctrine

A legal theory that views a combination of workers for the purpose of demanding better working conditions or wages as a criminal conspiracy.

National Labor Relations Act

A foundational U.S. law enacted in 1935 that protects the rights of employees to organize, engage in collective bargaining, and take collective action including strikes.

Commonwealth Vs. Hunt

A landmark 1842 Massachusetts Supreme Court case that ruled labor unions and strikes were lawful.

Railway Labor Act

A United States federal law that was originally enacted in 1926 to replace the existing dispute resolution mechanisms in the railway industry with a more effective and formal process.