One Similarity Between a Monopolist and a Perfectly Competitive Firm

question 82

Multiple Choice

One similarity between a monopolist and a perfectly competitive firm is that both

• A) choose the price at which to sell their product.
• B) need to know the shape of the market demand curve.
• C) are large relative to their markets.
• D) can make economic profits in the long run.
• E) may have similarly shaped cost curves.

---

Definitions:

Heredity

The genetic transmission of characteristics from parents to their offspring.

Independent Segregation

is a principle of genetics stating that alleles of different genes segregate independently of one another during gamete formation.

Environmental Influences

All external factors and conditions that affect the growth, development, behavior, and survival of individuals and populations.

Percentiles

A statistical measure indicating the value below which a given percentage of observations in a group falls.