A monopoly's markup (The amount above marginal cost it charges its customers) tends to increase when the elasticity of demand becomes more Unit Elastic Indeterminate Inelastic Elastic

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Question 25
A monopoly's markup (The amount above marginal cost it charges its customers) tends to
increase when the elasticity of demand becomes more,
Unit Elastic
Indeterminate
Inelastic
Elastic
Question 26
Any increase in a monopoly's fixed costs will:
Change its production decision, and increase profit
Not change its production decision, but reduce profit
Change its production decision, and reduce profit
Not change its production decision, but increase profit
Transcribed Image Text:Question 25 A monopoly's markup (The amount above marginal cost it charges its customers) tends to increase when the elasticity of demand becomes more, Unit Elastic Indeterminate Inelastic Elastic Question 26 Any increase in a monopoly's fixed costs will: Change its production decision, and increase profit Not change its production decision, but reduce profit Change its production decision, and reduce profit Not change its production decision, but increase profit
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