Assume Someone Organizes All Farms in the Nation into a Single-Price

question 285

Multiple Choice

Assume someone organizes all farms in the nation into a single-price monopoly.As a result,the price consumers pay for food

• A) does not change, that is, it remains constant.
• B) falls.
• C) rises.
• D) might rise or fall depending on whether the demand for food is elastic or inelastic.
• E) might rise or fall depending on whether the monopoly's marginal revenue curve lies above or below its demand curve.

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