In a condition of monopoly, the monopolist has a control over the pric – McqOptions

MCQOPTIONS

1.	In a condition of monopoly, the monopolist has a control over the price he charges for his product. In which of the following conditions he will be able to maximize his profits?
A.	Lowering the prices if the demand curve is elastic
B.	Lowering the price, if the demand curve is inelastic
C.	Raising the price, if the demand curve is elastic
D.	In all of above situations
Answer» B. Lowering the price, if the demand curve is inelastic

Discussion

No Comment Found

Related MCQs

Dutt Committee was related to which of the following ?
In the initial years of independence, grain shortage forced India to sign PL 480 wheat import deal with which of the following countries?
In which year the original concept of Goods and Services Tax (GST) in the present form had come to India in a formal manner?
What is the frequency of availability of Overall WPI Index?
Which among the following holds true for Economic Development?
Which among the following sentences is / are correct ?
Which among the following correctly defines “Fertility Rate” ?
Which of the following schemes have been subsumed in the recently approved Ayushman Bharat – National Health Protection Mission (AB-NHPM)?
Which among the following does not come under ISOPOM scheme?
___the benefits of development from different sectors should not by pass women and special programmes on women should complement the general development programmes. The latter, in turn, should reflect greater gender sensitivity”Which among the following plan documents emphasized the need of “Gender Budgeting” by incorporating the above clause / phrase?