A Monopolist Must Choose Between Two Points on Its Demand

question 34

Multiple Choice

A monopolist must choose between two points on its demand curve.It can either sell 100 units for $3 each,or sell 150 units for $2 each.This implies that,for the given range of output,elasticity of demand for the monopolist's product is _____

• A)zero.
• B)one.
• C)more than one but less than two.
• D)infinite.
• E)between zero and one.

---

Definitions:

Employment Relations

The relationship between employers and employees, including the rights, duties, and obligations they owe each other.

Legislation

Laws and statutes enacted by a government's legislative body to regulate, authorize, sanction, grant, declare, or restrict various activities and conduct.

Union Certified

A status indicating that a labor union has been officially recognized as the representative of workers in a particular workplace or sector.

Contractual Term

A contractual term is any provision forming part of a contract. Each term gives rise to a contractual obligation, breach of which can give rise to litigation.