When a Monopolist Increases the Number of Units It Sells

question 350

Multiple Choice

When a monopolist increases the number of units it sells, there are two effects on revenue. They are the

• A)demand effect and the supply effect.
• B)competition effect and the cost effect.
• C)competitive effect and the monopoly effect.
• D)output effect and the price effect.

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Definitions:

Social Inequalities

Disparities in wealth, status, or power among individuals or groups within a society.

Ingroup Bias

The tendency to favor and prioritize the members of one's own group over those of another.

Outgroup Homogeneity

The tendency to view members of an outgroup as more similar to one another than members of one's own group (ingroup).

Wealthy People

Individuals possessing a significant amount of capital, assets, or resources, well above the financial average of the general population.