State with reasons whether you agree or disagree with the following st

1.	State with reasons whether you agree or disagree with the following statements:A seller is a price maker in monopoly.
Answer» Yes, I agree with this statement. 1. In monopoly market there is a single seller of a product. The aim of the monopolist is to earn maximum profit. 2. Being a single seller, the monopolist has complete control over the market supply. 3. The monopolist can thus have control over the price. He is, thus, a price maker

State with reasons whether you agree or disagree with the following statements:A seller is a price maker in monopoly.

Answer»

Yes, I agree with this statement.

1. In monopoly market there is a single seller of a product. The aim of the monopolist is to earn maximum profit.

2. Being a single seller, the monopolist has complete control over the market supply.

3. The monopolist can thus have control over the price. He is, thus, a price maker