Suppose the monopolist is thinking about charging men a 10% higher price. if the monopolist does so, the quantity demanded by me

Question

stiks02 [169]

3 years ago

6

Suppose the monopolist is thinking about charging men a 10% higher price. if the monopolist does so, the quantity demanded by me

n would fall by

Business

1 answer:

vovikov84 [41] · Answer 1 · 2022-04-15T23:50:04+03:00

vovikov84 [41]3 years ago

5 0

It would not fall at all. Monopolists own the entire industry meaning the consumers have no alternatives. If they have no alternative they have no choice but to buy even if the price increases