Which of the Following Is a Major Criticism of a Monopoly

question 139

Multiple Choice

Which of the following is a major criticism of a monopoly as a cause of allocative inefficiency?

• A)A monopolist fails to expand output to the level where the consumers' evaluation of an additional unit is just equal to its opportunity cost
• B)A monopolist has no incentive to produce efficiently, because even if it pays no attention to the costs of production, it will be guaranteed an economic profit
• C)A monopolist will always make profits therefore providing an incentive to keep prices at the level that maximizes consumer surplus
• D)A monopolist has an advantage because it can purchase the resources in a competitive market
• E)Consumer surplus would no longer be equal to producer surplus

Distinguish between different methods of dating rocks and fossils and their applicability.

Explain the significance of key geological and biotic changes over Earth's history, including mass extinctions and the evolution of multicellular life.

Summarize the characteristics and significance of different geological eons and the development of life within them.

Understand the correct usage of prime (') and double prime (") symbols in representing time.

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Definitions:

Progesterone

A steroid hormone involved in the menstrual cycle, pregnancy, and embryo development.

Aldosterone

Aldosterone is a steroid hormone produced by the adrenal cortex that regulates sodium and potassium balance in the blood, influencing blood pressure and fluid balance.

Pineal Gland

A small endocrine gland in the brain that produces the hormone melatonin, which helps regulate sleep patterns.

Vasopressin

A hormone produced by the hypothalamus and stored in the pituitary gland, playing a key role in regulating water balance and blood pressure.