Which of the Following Is True of a Monopolist in the Short

question 2

Multiple Choice

Which of the following is true of a monopolist in the short run?​

• A)It can charge whatever price it wants.
• B)It charges more than what consumers are willing to pay.
• C)It is constrained by marginal cost in setting price.
• D)It is constrained by consumer demand in setting price.
• E)It always earns an economic profit.

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Definitions:

Authoritative Directions

Instructions or orders given by someone in a position of power that are expected to be followed without question.

Expert Power

A form of influence derived from possessing specialized knowledge or expertise.

Technical Areas

Specialized fields of study or occupation that focus on particular technologies or skills related to sciences and engineering.

Judgment

The ability to make considered decisions or come to sensible conclusions based on a critical evaluation of evidence and reasoning.