An Economist Observes That a Monopolist Does Not Take Full

question 17

Multiple Choice

An economist observes that a monopolist does not take full advantage of its market power. She concludes that there must be some rational reason for this behavior that she has not yet discovered. This economist is most likely to be a(n) :

• A) traditional economist.
• B) behavioral economist.
• C) irrational economist.
• D) engineering economist.

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Definitions:

Synapse

The space between two neurons across which impulses are carried by neurotransmitters.

Neurons

Specialized cells of the nervous system that transmit information to other nerve cells, muscle, or gland cells.

Anabolic Steroids

Synthetic substances similar to the male hormone testosterone, used to increase muscle mass and strength.

Irrationally Aggressive

Exhibiting aggressive behavior without a reasonable cause or in a manner disproportionate to the situation.