Other Things Being Equal, the Behavior of a Monopolist Differs

question 275

Multiple Choice

Other things being equal, the behavior of a monopolist differs from that of a competitive industry in that

• A) the monopolist does not attempt to maximize economic profit.
• B) the monopolist hires more labor.
• C) the monopolist restricts output and hires less labor.
• D) the monopolist must consider fixed costs in deciding the optimal level of output to produce in the short run.