QUESTION 8 The Story Bridge Adventure Climb Corporation is the only company that

Question

QUESTION 8 The Story Bridge Adventure Climb Corporation is the only company that offers customers an opportunity to climb Brisbane's Story Bridge. They are the only supplier in this market because they have control over a key material resource. Assume demand is linear and the company profit maximises Select the item from the list provided to make the following statements true 8 1. Supply 2. Government regulators 3. Economic profits 4. Marginal revenue 5. Demand 6. Minimised 7. Deadweight loss 8. Differentiated 9. Market power 10. Opportunity costs 11. Maximised 12. Marginal cost The company's profit is revenue equals marginal cost. at the quantity where marginal aim to closely monitor prices set by monopolies Monopolistic competition involves slightly products.

Explanation / Answer

2.market power aim to closely monitor prices set by monopolies.

Market power refers to manipulate the price of an item in the market by supply and demand.

It has the ability to control prices.

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