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:

Time And Motion Studies

Analytical techniques used to evaluate the efficiency of a worker's performance by breaking down tasks into their components.

Fordism

denotes a system of industrial production characterized by mass production and high wages, standardized products, and assembly-line methods, originating from Henry Ford's practices.

Total Quality Management

A comprehensive management approach focusing on continuous improvement in all aspects of a business, aiming to ensure high quality in products or services.

Job Control Unionism

A unionism approach focused on managing aspects of work such as hiring, promotions, layoffs, and work rules through collective bargaining.