Relative to a Competitively Organized Industry, a Monopoly Is More

question 4

Multiple Choice

Relative to a competitively organized industry, a monopoly is more likely to produce

• A) more output, charges higher prices, and earns economic profits.
• B) less output, charges lower prices, and earns economic profits.
• C) less output, charges lower prices, and earns only a normal profit.
• D) less output, charges higher price, and earns economic profits.

---

Definitions:

Stereotype Threat

The risk of confirming negative stereotypes about an individual's racial, ethnic, gender, or cultural group which can impair performance.

Negative Stereotype

A fixed, overgeneralized belief about a particular group or class of people that is unfavorable or harmful.

Out-Group

A social group toward which an individual feels a sense of competition or opposition, as opposed to an "in-group," which elicits feelings of loyalty and belonging.

Equal Pay Act

A labor law that prohibits gender-based wage discrimination, mandating equal pay for equal work performed by men and women.