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A monopolist will charge the highest price possible is a(n) Blank______ statement since Blank______. Multiple choice question. correct; they are considered to a price maker
A monopolist will charge the highest price possible is a(n) Blank______ statement since Blank______. Multiple choice question. correct; they are considered to a price maker correct; people need the monopolist's product and will pay whatever amount to secure the product incorrect; there are many prices above the equilibrium price that will result in a less than maximum total profit incorrect; they are government controlled and legislation prevents this from happening
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