The correct answer is that, Monopoly sets their own prices.
When there is no competition in a monopoly it shows that , monopoly they do set their own prices. Monopoly is termed as the only enterprise or person who supplies a particular commodity.
They are characterized by way of lacking competition in economic which produces either services or goods.
We say that there is high monopoly profit when there is monopoly price is being high than marginal cost of the seller.
Government can establish monopolies by integration form.
Answer:
A
Explanation: They gained the land that used to belong to Mexico, like Tx, Ca, etc.
The correct answer is C.
A monopoly is a market structure where a single firm serves the whole demand of a specific good or service. It does not face competitors, therefore, such firm has absolute market power to decide the price charged for its products.
So, the monopoly is able to charge a higher price than in a perfect competition scenario where the price would be set at the intersection betweeen the demand function and the marginal cost function.
Instead, the quantity sold in the monopoly (<u>q*) is determined by the intersection of the marginal revenue and marginal cost curves, and the monopoly price is computed by substituting q* in the expression of the demand function </u>(because the demand function relates price and quantity).
<u>The result is 15$ as the picture shows. </u>
The Declaration of November 7, 1835, passed by the Consultation announced that the Texan war against Mexico principally intended to restore the Mexican Constitution of 1824, abrogated by the actions of President Antonio Lopez de Santa Anna, and to achieve separate Mexican statehood for Texas
