Which of the Following Is Not a Difference Between a Monopoly

question 10

Multiple Choice

Which of the following is not a difference between a monopoly and a competitive firm?

• A)An industry that is monopolized will produce less than the same industry that is competitive.
• B)Monopolies always earn economic profits, whereas competitive firms never do.
• C)For a monopoly, price is greater than marginal revenue, whereas price and marginal revenue are the same for a competitive firm.
• D)There is a deadweight loss associated with a monopoly, whereas a competitive industry suffers no deadweight loss.
• E)A competitive firm produces at minimum average total cost in a long-run equilibrium, whereas this is not necessarily the case for a monopoly.

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Definitions:

RC Parallel Circuit

An electrical circuit configuration consisting of resistors (R) and capacitors (C) connected in parallel, affecting current and voltage differently.

R

Symbol commonly used to denote resistance in electrical circuits, measured in ohms (Ω).

Power Factor

The ratio of the real power flowing to the load to the apparent power in the circuit, indicating how effectively electrical power is converted into useful work output.

RC Parallel Circuit

An electrical circuit composed of resistors (R) and capacitors (C) connected in parallel, affecting the total impedance seen by an alternating current (AC) source.