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Homework answers / question archive / If a monopoly chooses the optimal price instead of the optimal quantity, then its profits will be A

If a monopoly chooses the optimal price instead of the optimal quantity, then its profits will be A

Economics

If a monopoly chooses the optimal price instead of the optimal quantity, then its profits will be A. lower because consumers are more sensitive to price. O B. lower because costs are increasing in quantity. OC. unchanged because the optimal price and quantity yield the same profit. O D. higher because a monopoly only has power to set price. O E. higher because profit is increasing in price. Why can't a monopoly choose both price and quantity? A monopoly can't choose both price and quantity because A. a monopoly produces a homogeneous product. O B. a monopoly faces no competition. OC. a monopoly faces the treat of potential entrants. OD. a monopoly has the power to set price, not the demand curve. O E. a monopoly has no supply curve.

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