A Single Priced Monopoly

question 98

Multiple Choice

A single priced monopoly:

• A) can increase price and increase output at the same time.
• B) can charge any price it wants and still sell all of its output.
• C) can sell any output it produces provided it accepts the market price.
• D) must lower price in order to increase output.

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Definitions:

Gross Income

The total income earned by an individual or a business before any deductions or taxes are taken out.

Political Subdivision

An administrative division of a country that is granted certain powers and responsibilities by legislation, such as a city, county, or district.

Constructive Receipt

A tax principle that taxes income individuals have earned but not yet received, based on the availability without substantial restriction.

Control

Refers to the power to influence or direct people's behavior or the course of events.