Figure 93 Figure 9

question 123

Multiple Choice

Figure 9.3 Figure 9.3 above shows the demand and cost curves facing a monopolist.
-Refer to Figure 9.3.What happens to the monopolist represented in the diagram in the long run?

• A)It will raise its price at least until it breaks even.
• B)If the cost and demand curves remain the same, it will exit the market.
• C)The government will subsidise the monopoly to enable it to break even.
• D)It will be forced out of business by more efficient producers.

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