A Monopoly

question 528

Multiple Choice

A monopoly

• A)can set the price it charges for its output and earn unlimited profits.
• B)takes the market price as given and earns small but positive profits.
• C)can set the price it charges for its output but faces a downward-sloping demand curve so it cannot earn unlimited profits.
• D)can set the price it charges for its output but faces a horizontal demand curve so it can earn unlimited profits.

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