Monopoly And Price Descrimination Flashcards
1
Q
Which of the following statements is correct?
A) A competitive firm is a price maker and a monopoly is a price taker.
B) A competitive firm is a price taker and a monopoly is a price maker.
C) Both competitive firms and monopolies are price takers.
D) Both competitive firms and monopolies are price makers.
A
B) A competitive firm is a price taker and a monopoly is a price maker.
