The simplest way for a monopoly to arise is for a single firm to
A: decrease its price below its competitors’ prices.
B: decrease production to increase demand for its product.
C: make pricing decisions jointly with other firms.
D: own a key resource.
A: decrease its price below its competitors’ prices.
B: decrease production to increase demand for its product.
C: make pricing decisions jointly with other firms.
D: own a key resource.
举一反三
- Which of the following can be predicted to increase the demand for labor? a. An increase in the price of a gross complement to labor b. A decrease in the price of a gross substitute for labor c. A decrease in the number of firms d. An increase in product demand A: An increase in the price of a gross complement to labor B: A decrease in the price of a gross substitute for labor C: A decrease in the number of firms D: An increase in product demand
- Suppose that the United States eliminates its tariff on steel imports, permitting foreign-produced steel to enter the U.S. market. Steel prices to U.S. consumers would be expected to: A: Increase, and the foreign demand for U.S. exports would increase B: Decrease, and the foreign demand for U.S. exports would increase C: Increase, and the foreign demand for U.S. exports would decrease D: Decrease, and the foreign demand for U.S. exports would decrease
- Which of the following statements are correct？（ ） A: Price cannot be flexible in the short term. B: An organisation may adjust its prices at various times of the year to stimulate demand and generate cash flow. C: The unit cost of production of a product may decrease as production quantity of it increases. D: A product's price may be set low initially in order to penetrate a market.
- If a firm charges more than the market price, it loses all its customers to other firms.
- The<br/>key difference between a competitive firm and a monopoly firm is the<br/>ability to select ( ) A: the level of competition in<br/>the market. B: the level of production. C: inputs in the production<br/>process. D: the price of its output.