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  • 21-10-2021
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What happens if a monopolist increases the price of a good?

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  • 21-10-2021

Answer:

By contrast, because a monopoly is the sole producer in its market, its demand curve is the market demand curve. If the monopolist raises the price of its good, consumers buy less of it. Also, if the monopolist reduces the quantity of output it produces and sells, the price of its output increases.

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