The Differences Between a Competitive Market and a Monopoly Include

question 224

Multiple Choice

The differences between a competitive market and a monopoly include all of these except

• A)excess profits would be competed away in a competitive market, but persist in a monopolistic market.
• B)a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise short term prices.
• C)a competitive market's cost curves will shift with the market, while a monopoly's cost curves will remain stable.
• D)a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise long term prices.

---

Definitions:

Prospecting

The process in sales and marketing involving the search for potential customers or clients, often involving research and outreach strategies.

Self-inflated Egos

A perception of oneself that is excessively confident and self-important, often without justification.

Fear And Self-doubt

Emotional states that hinder an individual's confidence and ability to perform tasks or make decisions.

Channel Sales Representative

A professional responsible for managing relationships and sales through specific distribution channels.