Evaluate the following statement using economic reasoning:

Evaluate the following statement using economic reasoning:

Question 19 of 20

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Evaluate the following statement using economic reasoning: “A monopolist can charge whatever she wants because she is the only source available.”

A monopolist can charge whatever she wants but even monopolist decrease their prices in order to sell more of the product. This is also a great example of why marginal revenue is under the demand curve in a monopolistic market! She can charge whatever she wants in for a while, but the market will inevitably force the constraints of supply and demand. Quickly after this, she will realize that she cannot charge whatever she sees fit.

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