For the same monopolist firm as in the previous question, what is the price that the monopoly chooses to set to go along with its quantity choice
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Ответ:
Hi, you've asked an incomplete question. However, I provided some explanation about what monopoly entails.
Explanation:
Note that the term monopoly basically refers to a market environment in which an entity or enterprise is the only producer of a particular commodity.
In such a situation, the monopolist firm has a market advantage of being able to choose what price to sell its products without been concerned about the price of the competitor's products.
Ответ:
The answer is option 3
Explanation:
Necessity entrepreneurs are individuals that start small businesses out of necessities. So in low income countries most of the entrepreneurs enter business for survival.