Which of the Following Statements Is True

question 416

Multiple Choice

Which of the following statements is true?

• A) All monopolists are perfect price discriminators.
• B) All monopolists earn short-run economic profits.
• C) A monopolist will leave the market if it incurs an economic loss in the long run.
• D) A monopolist does not need barriers to entry to sustain a long-run economic profit.

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Definitions:

Conventional Moral Reasoning

A stage of moral development where individuals make decisions based on social norms and the expectations of others, typically occurring during adolescence.

Kohlberg's Theory

A theory of moral development proposed by Lawrence Kohlberg, suggesting that moral reasoning progresses through a series of stages.

Perspective

A particular attitude toward or way of regarding something; a point of view.

Genetic Causes

Factors originating in an individual's DNA that contribute to the development of certain conditions or traits.