When a Monopoly Increases Its Output and Sales,what Is the Impact

question 212

Multiple Choice

When a monopoly increases its output and sales,what is the impact of the output effect and the price effect on total revenue

• A)Both the output effect and the price effect work to increase total revenue.
• B)The output effect works to increase total revenue, and the price effect works to decrease total revenue.
• C)The output effect works to decrease total revenue, and the price effect works to increase total revenue.
• D)Both the output effect and the price effect work to decrease total revenue.

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Definitions:

Biological Influences

Factors related to genetics, anatomy, and physiology that affect human behavior and characteristics.

Social Cognition

Refers to the processes involved in understanding, interpreting, and responding to the social world.

Economic Behavior

The study of how individuals, businesses, and governments make decisions about allocating resources to satisfy their needs and desires.

Psychoanalytic Theory

A theory of human psychology that posits unconscious motives and childhood experiences are central to personality development and behavior.