Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price

TCO 3) a.) Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price."?  Explain.  b.) Why can't an individual firm raise its price by reducing output or lower its price to increase sales volume in a purely competitive market? (Points : 25)                                 

                                

(TCO 2) What effect should each of the following have on the demand for gasoline in a competitive market?  State what happens to demand.  Explain your reasoning in each case and relate it to a demand determinant. (a)an increase in the number of cars (b)the economy moves into a recession (c)an increase in the price of car insurance, taxes, maintenance (d)consumer expectations of substantial price increases in gasoline (Points : 25) Click here for more on this paper....... Click here to have a similar A+ quality paper done for you by one of our writers within the set deadline at a discounted.....