Which of the Following Is Not True of a Pure

question 194

Multiple Choice

Which of the following is not true of a pure monopoly?

• A)Demand is negatively sloped
• B)Marginal revenue is less than price therefore the firm should consider raising its price until marginal revenue equals demand
• C)Marginal revenue is less than average revenue therefore the firm should consider adjusting its quantity until marginal revenue equals average revenue
• D)It is a price taker
• E)Its position is protected by significant barriers to entry

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Definitions:

Oxytocin

A hormone and neurotransmitter that plays an important role in the social bonding, sexual reproduction, and the period around childbirth.

Pituitary Gland

The body’s “master gland,” which is located in the lower central part of the brain and which secretes many hormones essential to development, such as oxytocin, prolactin, and growth hormone.

Adrenal Glands

Endocrine glands located above the kidneys, responsible for producing critical hormones, including adrenaline and cortisol, that regulate stress responses and metabolism.

Forceps

A medical instrument resembling a pair of tongs, used for grasping, manipulating, or extracting, especially in deliveries to assist in childbirth.