"Price maker" means that a monopoly can decide whatever price it wants to, in order to sell a specific given quantity of its product.

Name: "Price maker" means that a monopoly can decide whatever price it wants to, in order to sell a specific given quantity of its product.
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Question

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A price maker can set the price, but it must consider the demand curve, as setting a price too high may reduce the quantity sold.

"Price Maker" Means That a Monopoly Can Decide Whatever Price