Which of the Following Explains Why Monopoly Is Uncommon in the Real

question 122

Multiple Choice

Which of the following explains why monopoly is uncommon in the real world?

• A) firms usually face downward-sloping demand curves.
• B) supply curves slope upward.
• C) price is usually set equal to marginal cost by firms.
• D) there are reasonable substitutes for most goods.

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Definitions:

Dust Density Sensors

Devices used to measure the concentration or density of airborne dust particles, important in environmental monitoring and industrial processes.

Labour and Overhead

A combination of direct labor costs and indirect costs (overhead) associated with the production of goods or services.

Blending Department

A division in a manufacturing or processing plant where ingredients are combined to produce a final product.

Weighted-Average Method

This method calculates inventory and cost of goods sold values by averaging the costs of all goods available for sale, weighting them according to their quantities.