A monopolist responds to a decrease in demand by _____ price and _____ output.
A)increasing;decreasing
B)increasing;increasing
C)decreasing,increasing
D)decreasing;decreasing

Name: A monopolist responds to a decrease in demand by _____ price and _____ output. A)increasing;decreasing B)increasing;increasing C)decreasing,increasing D)decreasing;decreasing
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Question

Quizplus · Accepted Answer

A monopolist typically decreases both price and output in response to a decrease in demand to maximize profits, as the demand curve shifts leftward.

A Monopolist Responds to a Decrease in Demand by _____