Which of the Following Statements Is Not Correct

question 585

Multiple Choice

Which of the following statements is not correct?

• A)Monopolistic competition is similar to monopoly because in each market structure the firm can charge a price above marginal costs.
• B)Monopolistic competition is similar to perfect competition because both market structures are characterized by free entry.
• C)Monopolistic competition is similar to oligopoly because both market structures are characterized by barriers to entry.
• D)Monopolistic competition is similar to perfect competition because both market structures are characterized by many sellers.

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Definitions:

Prestige

The respect and admiration that an individual or organization gains based on achievements, quality, or position.

California Q-Set

An assessment tool used in psychology to measure personality traits, attitudes, and behaviors through the ranking of descriptive items.

Quantitative Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of fewer unobserved variables, called factors.

Allport

Gordon Allport, a pioneering psychologist known for his theory on personality traits and the concept of the "proprium" as the core of an individual's sense of self.