"A monopolist can control the price or the quantity sold, but cannot control both." Can someone explain this statement?


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Betty Cheng Profile
Betty Cheng answered
In a sense, it's saying you can sell something but clients may bargain for a price before settling a decision. If not, you can offer the other way around. It's true. This is the only method to make sales across the world, including trade. So yes, a monopolist has a "set" price for the "set" quantity to be sold but who is going to buy it without a bargain, especially in the competitive trade market.

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