Home

Join Our Socials

Telegram Group
Join Community
Twitter Group
Pinterest Group
Facebook Group
Subscribe YouTube

What is the correct answer?

4

A monopolist has control over the price he charges for his product. He will be able to maximize his profit by:

A. Lowering the price, if the demand curve is elastic

B. Lowering the price, if the demand curve is inelastic

C. Rising the price, if the demand curve is elastic

D. None of the above is applicable

Correct Answer :

A. Lowering the price, if the demand curve is elastic


Share this question with your friends
Show all Basics of Economics MCQ

Please do not use chat terms. Example: avoid using "grt" instead of "great".

Submit
Load More..

Related Questions

Returns to scale is a: In cournot model, each firm makes decision regarding: The central problem of economics is: In substitution effect and income effect: The relationship between AC and MC curves depend upon the behavior of: Average cost means: The water diamond paradox was firstly resolved with the help of: Excess capacity is not found under: If the price of product A decreases and in the result the demand for product… Cournot equilibrium is attained where two reaction curves: If the commodity is normal then Income Effect (I.E) is: The firm is at equilibrium where: When the slope of a demand curve is infinite (also known as horizontal… Economies of large-scale production: The substitution effect works to encourage a consumer to purchase more… If the commodity is inferior then the Income Effect (I.E) and the Substitution… Which of the following has more elastic demand curve? Total fixed costs are: The Strategy of Economic Development is the work of: Supply and demand changes have their most rapid impact in: Change in quantity demanded (expansion and contraction of demand) is: In cournot model, during the process of adjustment, the number of firms: A straight line, downward-sloping demand curve implies that, as price… The minimization of costs subject to output requires equilibrium at the… The slope of indifference curve shows: Quantity demanded or supplied is measured in: The total utility (TU) curve is: When income of the consumer increases then demand curve of an inferior… In monopoly, when average revenue curve falls: In cournot model firms:

Also checkout

Angiosperms (Morphology) MCQ Genetics MCQ Phylum - Annelida MCQ Angiosperms (Embryology Life Cycles) MCQ Gymnosperms MCQ Indirect TAX MCQ Tumors of the prostate MCQ Theory of Machines MCQ Direct TAX MCQ Physical Measurement MCQ AP Calculus AB MCQ Machine Input MI MCQ