Consider the relationship between monopoly pricing and price elasticity of demand. If demand is inelastic and a monopolist raises its price, total revenue wouldincrease and total cost wouldincrease , causing profit todecrease . Therefore, a monopolist willsometimes produce a quantity at which the demand curve is inelastic. Use the purple segment (diamond symbols) to indicate the portion of the demand curve that is inelastic.
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Around 18.5 million people live in Mozambique, of whom 54% still live under the national poverty line (National Household Income Survey, Mozambique National Institute of Statistics -INE, 2003). The average annual income (GNI) per person is US$250, or about Â£140 (World Development Indicators 2005). That's half the average weekly income in the UK. - Average annual GDP has increased by over 8% pa since the late 1990s (Ministry of Planning and Dev, 2004). Mozambique held its 3rd democratic elections in December 2004 and FRELIMO, in power since 1994, won a substantial majority.