You Are Shown a Graph of a Monopolist in Long-Run

question 156

Multiple Choice

You are shown a graph of a monopolist in long-run equilibrium and a graph of a monopolistically competitive firm in short-run equilibrium. How could you tell which is which?

• A) You probably could not.
• B) In the graph of monopolistic competition, the MR curve could be closer to the demand curve.
• C) In the graph of monopoly, the MR curve would be closer to the demand curve.
• D) In the graph of monopoly, the MC would slope upward.

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Definitions:

Authoritarian

Authoritarian describes a style of leadership or governance characterized by strong central power and limited political freedoms, or in the context of parenting, a style marked by strict rules and expectations with little room for dialogue.

Strict Guidelines

Strict guidelines refer to a set of precise and clear rules or principles designed to control or govern behavior or procedures.

Rejecting-neglectful

A parenting style characterized by a lack of responsiveness to a child's needs and a lack of demands, often resulting in negative outcomes for the child's development.

Mature Behavior

Conduct characterized by the ability to respond to situations in an age-appropriate and socially responsible manner.