alleryStart learning →A monopolist is described as a:
APrice taker
BCost taker
CPrice maker
DMarket follower
Answer & Solution
Correct answer: C. Price maker
As the only seller it can decide the price, though it is limited by the market demand it faces.
Keep practising Monopoly
Browse all Monopoly questions for CA Foundation, or explore more Business Economics topics.
Related questions
If total revenue exceeds total cost, a monopolist earns:Control of critical raw materials gives a firm monopoly power through:For a pure monopolist, the firm's demand curve is the:Entry limit pricing involves deliberately setting a:Absence of close substitutes makes a monopolist's product demand:Which index is used to estimate a firm's market power?Monopoly pricing creates which welfare loss?A monopoly granted by law to one private company is called a: