It is true in monopoly pricing that the
A)sky is not the limit.
B)market cannot impose a price on a monopolist.
C)monopolist is a price maker.
D)All of these responses are correct.

Question

Quizplus · Accepted Answer

In a monopoly, the monopolist has significant control over the price because they are the sole provider of a good or service, making them a price maker. However, their pricing power is not unlimited ("the sky is not the limit") because demand, potential competition, and regulatory constraints can affect their pricing decisions. Additionally, the market cannot impose a price on a monopolist in the same way it can in a competitive market, where individual firms are price takers.

It Is True in Monopoly Pricing That the