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Question
______ is the effect on price when a monopoly firm tries to sell more.
Options
Increase Prices
Reduce Prices
Do not change Price
Introduce new product.
MCQ
Fill in the Blanks
Solution
Reduce Prices
Explanation:
The firm in the monopoly market will be able to sell more if the prices are reduced since the demand curve is elastic.
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Aggregates Related to National Income - Net National Product (NNP)
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