Which of the Following Is True for a Monopolist

question 14

Multiple Choice

Which of the following is true for a monopolist?

• A)It faces a perfectly elastic demand curve.
• B)It must lower its price on all of its units in order to sell any additional units.
• C)Its marginal revenue curve is equal to its demand curve.
• D)It faces many competitors.

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Definitions:

Nominal GDP

The total economic value of all finished products and services generated inside a country over a year, evaluated at present market prices.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a given year, expressed in constant prices.

Total Spending

The aggregate amount of money expended by individuals, businesses, and governments on goods and services within a certain period.

Output of Goods

The total amount of products, including goods and services, produced by a company or country within a specified period.