Answer:
The statement is true. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Explanation:
In economics, a monopoly is a term that describes an industry or other economic sector where control rests with one supplier as that supplier is the only one supplying the market. In theory, that means total control or "complete monopoly" but in practice most monopolies today are "quasi-monopolies", with a supplier dominating the market almost completely but with the space for a few small companies as well. The monopolist can get a high price for his product by limiting market supply so that the supply of goods is less than the demand for it.
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Answer:
b. He will have a capital gain of $6.8 million this year (year of the sale) for tax purposes.
Explanation:
Steve's entire stock position the year of the sale at 100% is $3 million.
On July 1 of same year, he sold 40% of $3 million to an ESOP for $8 million.
40% of $3 million is $1.2 million worth of non-publicly-traded corporate stock that Steve sold. His capital gain is : $8 million - $1.2 million = $6.8 million. Steve will therefore have a capital gain of $6.8 million the year of the sale for tax purposes.
