Question

You are the only clothes producer in the industry. You can choose a price that _____.

Answer 1

You can choose a price that maximizes your profits.

Explanation:

If you are the only clothes producer in the industry, it is known as monopoly. Monopoly means a single seller selling a unique product without competition.

The monopoly seller has the right to choose the price for his goods. He can fix the price in the way to maximize his profit. As he is the sole seller, he will not have any competitions in the industry. This in turn helps him to make lot of profit on producing clothes with full freedom in fixing the price of the clothes.

Answer 2

Answer:

maximize your profits

Explanation: