In a condition of monopoly, the monopolist has a control over the price he charges for his product. In which of the following conditions he will be able to maximize his profits?
[A] Lowering the prices if the demand curve is elastic
[B] Lowering the price, if the demand curve is inelastic
[C] Raising the price, if the demand curve is elastic
[D] In all of above situations

Show Answer

Advertisement