A monopoly
A)can ignore the law of demand
B)faces a demand curve for its output that is nowhere price inelastic
C)establishes the market price when it decides how much to charge
D)can sell additional units of output without lowering its price
E)is also a perfect price discriminator

Question

Quizplus · Accepted Answer

A monopoly establishes the market price by deciding the quantity of output to produce, as it is the sole supplier in the market.

A Monopoly