In order to sell more goods and/or services, what must a monopoly do?
A) Reduce price and increase output
B) Increase output
C) Increase price
D) Nothing, since it is the market

Question

Quizplus · Accepted Answer

A monopoly, by definition, is the sole supplier in the market. This means they have significant control over pricing and output. In order to expand their market share and sell more goods and/or services, they must reduce the price and increase output to make their product more accessible and attractive to consumers. By doing so, they can lure customers away from competitors and increase their overall profits.

In Order to Sell More Goods And/or Services, What Must