Which of the Following Statements Is True

question 83

Multiple Choice

Which of the following statements is true?

• A)Monopolists are price makers. All other firms are price takers.
• B)Unlike other industries, monopoly industries have high barriers to entry.
• C)Only monopoly firms are granted patents and copyrights.
• D)Unlike other firms, a monopolist's demand curve is the same as the market demand curve.

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Definitions:

Unemployment

The condition of being without a job while actively looking for employment and being willing to work.

Recession(s)

A short-term economic decline phase, characterized by a slowdown in trading and industrial activities, generally identified by two sequential quarters of GDP fall.

1990s

The decade known for its technological advancements, economic globalization, and the end of the Cold War, influencing global politics and culture.

Leading Economic Indicators

Statistical data that precede economic trends and are used to predict future economic activity.