Which of the Following Statements Is Correct

question 382

Multiple Choice

Which of the following statements is correct?

• A) Both a competitive firm and a monopolist are price takers.
• B) Both a competitive firm and a monopolist are price makers.
• C) A competitive firm is a price taker, whereas a monopolist is a price maker.
• D) A competitive firm is a price maker, whereas a monopolist is a price taker.

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Definitions:

Predation

A biological interaction where one organism, the predator, kills and eats another organism, its prey, as a means of obtaining energy.

Biotic Potential

The highest possible rate of reproduction for a living being when the environment is most favorable.

Environmental Resistance

The sum of environmental factors (like predation, disease, and competition) that limit the growth of populations within an ecosystem.

Mortality

The state of being subject to death or the incidence of death within a population.