A Monopolist Has Less to Gain from Cost-Saving Measures in the Production

question 239

Multiple Choice

A monopolist has less to gain from cost-saving measures in the production process when

• A) the monopoly is unregulated.
• B) regulators use average cost pricing to set the monopolist's price.
• C) the demand for the product of the monopolist is inelastic.
• D) changes in the regulated price occur only after considerable delay.

---

Definitions:

Remorse

A deep feeling of regret or guilt for a wrong committed.

Repentance

The feeling of remorse or regret for past wrongs and the commitment to change for the better.

Antisocial Personality Disorder

A mental condition in which a person consistently shows no regard for right and wrong and ignores the feelings and rights of others.

Lack of Conscience

A deficit in or absence of moral awareness or consideration for right and wrong.