A Monopoly Is Able to Increase the Markup of Price

question 11

Multiple Choice

A monopoly is able to increase the markup of price over marginal cost:

• A) when the demand is more price-elastic.
• B) when the demand is less price-elastic.
• C) when there is more marginal revenue per unit sold.
• D) at will regardless of price-elasticity.

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Definitions:

Obsessive-compulsive Disorders

A mental health condition characterized by unwanted repetitive thoughts (obsessions) and actions (compulsions).

Defense Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Obsessions

Persistent, unwanted thoughts, urges, or images that cause distress or anxiety.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession or according to rigid rules.