If a Monopolist Had No Costs, Its Best Possible Price

question 22

Multiple Choice

If a monopolist had no costs, its best possible price would be where demand is

• A)infinitely elastic.
• B)relatively (but not perfectly) elastic.
• C)unit elastic.
• D)relatively (but not completely) inelastic.

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Definitions:

Witchcraft

The practice of magical skills, spells, and abilities, often associated with the exercise of supernatural powers.

Exorcism

A religious or spiritual ritual intended to cast out a demon or spirit from a person or area.

Psychotic

Relating to psychosis, characterized by an impaired relationship with reality, which may include delusions and hallucinations.

Allen Memorial Hospital

A psychiatric hospital associated with McGill University in Montreal, Canada, known for its historical involvement in controversial brainwashing experiments during the 1950s and 1960s.