Question 1
For a monopolist to sell more units of output without increasing advertising
◦ the price of the output must be increased.
◦ demand must become more elastic.
◦ the other competing firms must sell fewer units.
◦ the price of the output must be reduced.
Question 2
When a monopolist sells two units of output per period of time its total revenue is £150. When a monopolist sells three units of output its total revenue, is £210. When the monopolist sells three units of output, the price per unit is
◦ £72.
◦ £60.
◦ £20.
◦ £70.