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irina1246 [14]
1 year ago
14

Suppose a monopolist produces output where total revenue is maximized. at that output, the price elasticity of demand for the mo

nopolist's output is:_________
Business
1 answer:
Ipatiy [6.2K]1 year ago
3 0

Suppose a monopolist produces output where total revenue is maximized. At that output, the price elasticity of demand for the monopolist's output is equal to one.

What is Monopoly?

A monopoly is a market structure where one producer or seller holds a significant amount of influence within a certain market. Monopolies are forbidden in free-market economies as they limit customer alternatives and discourage competition. A company that enjoys monopoly status lacks replacements for its goods and faces little internal competition. Monopolies have the power to set prices and create barriers to entry for competing companies. Monopolies frequently benefit from economies of scale, the capacity to produce large volumes at reduced unit prices.

To know more about monopoly refer:

brainly.com/question/5992626

#SPJ4

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3 years ago
In a small open economy, starting from a position of balanced trade, if the government increases domestic government purchases,
nordsb [41]

Answer:

Option A is correct.

deficit; negative

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This corresponds to the concept of twin deficits where a budget deficit that results from increased government purchases, also results in current account deficit. Since trade deficit implies negative NX there is a negative NCO.

6 0
2 years ago
Smaller bags of items are generally priced lower per unit than larger bags.
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3 years ago
Consider a competitive market with a large number of identical firms. The firms in this market do not use any resources that are
lakkis [162]

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a. increase price in the short run but not in the long run.

Explanation:

A perfectly competitive market is one in which firms in an economy produce similar goods, and use resources that are limited in quantity.

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