Which of the following statements applies to a single-price ...

[V@ndy87]

Which of the following statements applies to a single-price monopolist?
 
  A) In order to maximize profits, the monopolist will produce an amount of output that lies in the elastic range of its demand.
  B) In order to maximize profits, the monopolist will produce an amount of output that lies in the inelastic range of its demand.
  C) In order to maximize profits, the monopolist will produce where its demand is unit elastic.
  D) In order to maximize profits, the monopolist will produce an amount of output in the inelastic range of its supply.

Question 2

Fatz Confectionery is a candy company that operates at the risk of unlimited liability for its many owner in case, for instance, all of its former employees win a class action lawsuit because of sugar-lung developed over decades of working the
 
  Thus Fatz is a A) proprietorship.
  B) partnership.
  C) either of the above.
  D) neither of the above.

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Answer to Question 1

A

Answer to Question 2

B

[V@ndy87]

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