Which of the Following Is Correct for a Single-Price Monopoly

question 9

Multiple Choice

Which of the following is correct for a single-price monopoly?
i.The firm can determine the quantity it produces and the price it charges.
ii.It would never profitably produce output in the inelastic range of its demand.
iii.Its marginal revenue is less than price.

• A) i only
• B) i and iii
• C) ii only
• D) ii and iii
• E) i, ii, and iii

---

Definitions:

Receptor Potential

The change in electrical potential across a sensory receptor's membrane that occurs in response to a stimulus, leading to the generation of a nerve impulse.

Neurotransmitters

Chemicals that transmit signals across a synaptic gap between neurons in the nervous system.

Tonic Receptors

Sensory receptors that respond as long as a stimulus is present and adapt slowly to a constant stimulus.

Proprioceptors

Sensory receptors located in muscles and tendons, providing information about joint angle, muscle length, and muscle tension.