A monopoly's output decision depends only on the shape of its ...

[Mr.Thesaxman]

A monopoly's output decision depends only on the shape of its marginal cost curve.
 
  Indicate whether the statement is true or false

Question 2

How can the market demand for a product be inelastic but the demand for a particular firm is elastic?
 
  A) There is no advertising.
  B) There is a sufficiently large number of sellers.
  C) There is only one or two sellers.
  D) Buyers do not have complete information.

[Jadwiga9]

Answer to Question 1

False. The output decision depends on the shape of its marginal costs curve and demand curve.

Answer to Question 2

B