When more substitutes become available,a monopolist has __________ power to raise price.
A)less
B)infinite
C)more

Question

Quizplus · Accepted Answer

When more substitutes become available, consumers have more options to choose from and can easily switch to a substitute product if the price of the monopolist's product becomes too high. Therefore, the monopolist has less power to raise prices as they must consider the availability of substitutes and the potential loss of customers.

When More Substitutes Become Available,a Monopolist Has __________ Power to Raise