In Order to Sell More Goods And/or Services, What Must

question 289

Multiple Choice

In order to sell more goods and/or services, what must a monopoly do?

• A) Reduce price and increase output
• B) Increase output
• C) Increase price
• D) Nothing, since it is the market

Discern the difference between input and output standards in the context of the control process.

Understand the allocation of scarce resources in a market economy.

Comprehend market mechanisms and their role in addressing shortages.

Interpret supply and demand changes in a graphical form.