In order to sell more of its product, a monopolist must
A)lobby the government for a subsidy.
B)lower its price.
C)advertise.
D)enact barriers to entry in related markets.

Question

Quizplus · Accepted Answer

A monopolist can sell more of its product by lowering its price, as it faces a downward-sloping demand curve. This means that to increase the quantity sold, the monopolist must reduce the price.

In Order to Sell More of Its Product, a Monopolist