Which of the Following Is False

question 45

Multiple Choice

Which of the following is false?

• A) A perfectly competitive firm is resource-allocative efficient, but a monopolistic competitive firm is not.
• B) An oligopolistic firm is not resource-allocative efficient.
• C) An oligopolist produces that quantity of output at which price is equal to marginal cost.
• D) A monopolistic competitive firm produces a quantity of output at which price is greater than marginal cost.

---

Definitions:

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, outlining terms and conditions of employment, wages, and workplace policies.

Legal Authority

The lawful right given to an entity or individual to make decisions, enforce laws, or administer justice.

Union

An organization with the legal authority to represent workers, negotiate the terms and conditions of employment with the employer, and administer the collective agreement.

Labour Relations Board

A regulatory body tasked with enforcing labor laws and resolving disputes between employers and unions or employees.