The Local Grocery in a Small Southern City Is the Only

question 8

Multiple Choice

The local grocery in a small southern city is the only option for the residents, so it has a monopoly on the grocery business there. When the population of the city grows and demand for groceries increases, what is the grocery store most likely to do?

• A) Restrict output to drive prices down.
• B) Increase output to drive prices down.
• C) Restrict output and let prices rise.
• D) Increase output and let prices rise.

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Definitions:

Complement

A term used in various contexts, often denoting a thing that completes or goes well with another.

Interests

Activities, subjects, or areas that capture the attention, curiosity, or concern of an individual or group.

Goals

Targets or outcomes that an individual or group endeavors to achieve, often requiring planning and effort.

Same-Sex Partners

Individuals in a romantic or marital relationship who are of the same sex or gender identity.