When Barriers to Entry Are High, a Monopolist (Or Cartel)

question 254

Multiple Choice

When barriers to entry are high, a monopolist (or cartel) will often be able to increase their profits by

• A) expanding their output so they can increase their price.
• B) reducing their output so they can raise their price.
• C) expanding their output so they can lower their price.
• D) reducing their output so they can lower their price.

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Definitions:

National Park

A natural area protected for its scenic beauty, biodiversity, and recreational opportunities, often managed by governments for conservation and public enjoyment.

In Situ Conservation

Conservation methods that protect the genetic diversity of species in their natural habitats.

Ecosystem Service

Natural processes and elements that provide benefits to humans or other parts of the environment, such as pollination, water purification, and carbon sequestration.

Boreal Forest

A biome characterized by coniferous forests located in the northern regions, including parts of North America, Europe, and Asia.