Which of the Following Is Likely to Occur If a Monopoly

question 91

Multiple Choice

Which of the following is likely to occur if a monopoly suddenly loses its ability to deny potential competitors entry into the market?

• A)The market price of the product will fall.
• B)The total market quantity of output produced will fall.
• C)Profits for the market will increase.
• D)The industry demand curve for the product will shift.

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Definitions:

Moral Development

The process through which individuals develop proper attitudes and behaviors towards other people in society, based on social and cultural norms, rules, and laws.

Preconventional

The first level in Kohlberg's theory of moral development, where moral understanding is based on rewards and punishments associated with different actions.

Conventional

Pertaining to accepted norms or standards in a society or a group.

Moral Issues

Concerns or questions about what is right and wrong, which can involve judgments about society, individuals, or actions.