For any monopolist with a positive marginal cost of production, ...

[folubunmi]

For any monopolist with a positive marginal cost of production, its demand curve at its profit maximizing level:
 a. would be elastic.
 b. would be unit elastic.
 c. would be inelastic.
 d. could be either elastic or inelastic.

Question 2

Creating conditions for fair trade by limiting imports will make the domestic consumers better off as they will be required to pay low prices for the products.
 a. True
  b. False
  Indicate whether the statement is true or false

[ApricotDream]

Answer to Question 1

a

Answer to Question 2

False

[folubunmi]

Thanks for the timely response, appreciate it

[diana chang]

Excellent