Answer to Question #224791 in Economics of Enterprise for John

Question #224791

Which industry is most likely to be operated as a monopoly and why?


1
Expert's answer
2021-08-10T17:44:58-0400

Restaurants

They prefer to operate in the elastic section since lower prices equal lower revenue in the inelastic region,increased output translates to higher costs,less profit results from lower total income and more costs.


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