Question

• A monopolist always sets the price at a portion of the demand curve where
e = 1
b.e<1
c. e > 1
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Answer 1

Answer:

B

Explanation:

Monoply set price where elasticity of demand (e) is less than 1 because their is little bit change in demand curve because of not availability of substitute or any other competitor in the market so people don't have any other choice