Which of the Following Statements Is True of a Monopolist

question 98

Multiple Choice

Which of the following statements is true of a monopolist?

• A)The firm charges the highest possible price.
• B)The firm always earns a profit.
• C)The firm might earn a profit in the long run.
• D)The firm generates a larger consumer surplus than a perfectly competitive firm.
• E)The firm is more production efficient than a perfectly competitive firm.

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Definitions:

Schedule

A plan for carrying out a process or procedure, giving lists of intended events and times.

Routinely Late

A habitual pattern of being delayed or not arriving on time for appointments, work, or other scheduled activities.

Reprimand

To express to someone strong disapproval or criticism of their actions.

Inconsiderate

Describing behavior or actions that show a lack of concern for the needs, feelings, or well-being of others.