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Author Question: A profit maximizing monopolist sets price and output so that it always operates on the elastic ... (Read 30 times)

big1devin

  • Hero Member
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  • Posts: 583
on: Jun 30, 2018
A profit maximizing monopolist sets price and output so that it always operates on the elastic portion of its straight-line demand curve when in equilibrium.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Changes in relative prices create substitution effects.
 a. True
  b. False
  Indicate whether the statement is true or false


k.lashomb

  • Sr. Member
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  • Posts: 346
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

True


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