Gwhich of the following scenarios best represents the pricing behavior of a monopolist? teen angle hardware looks for a niche to sell its hardware products to teens, but finds that it is difficult to turn an economic profit due to other hardware stores also looking for niches. copycat handbag co. chooses the price it charges by estimating what its rivals are most likely to do and then taking their responses into consideration when pricing its products. our drugs inc. produces where its marginal revenue is equal to its marginal cost and prices on its downward-sloping demand curve, such that the market for its product clears knowing it will not face competition due to patents it holds on its products. stay*put pins takes the market price of clothespins as given and produces the amount of clothespins where marginal revenue equals marginal cost.

"Our Drugs Inc. produces where its marginal revenue is equal to its marginal cost and prices on its downward-sloping demand curve, such that the market for its product clears knowing it will not face competition due to patents it holds on its products."  

This scenario best represents the behavior of a monopolist

Explanation:   Mainly a monopolist has no competitors and does not look at his behavior. To maximize profits, a production should be set such that the marginal income is equal to the marginal cost. When the amount required by that point is transferred to demand, the optimum point that determines the monopoly price is found, which maximizes the benefits.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know