Which of the Following Statements Is False

question 130

Multiple Choice

Which of the following statements is false?

• A)A competitive firm maximizes profit when marginal revenue equals marginal cost.
• B)When a competitive firm increases output by one unit, revenue increases by an amount equal to market price.
• C)A monopoly and a competitive firm use a similar rule for setting output to maximize profit.
• D)When a monopoly increases output by one unit, revenue increases by an amount less than market price.
• E)A monopoly maximizes profit when price equals marginal cost.

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Definitions:

Worker Interests

Concerns, priorities, and benefits that are important to employees, including job security, wages, and workplace safety.

NLRA

National Labor Relations Act; legislation passed in the United States in 1935 that protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices.

NLRB Elections

Processes overseen by the National Labor Relations Board where employees vote to determine whether they wish to be represented by a union in collective bargaining.

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The process of reaffirming the certification of an entity or individual in their respective field or position.