Which of the Following Statements Is Not Correct

question 3

Multiple Choice

Which of the following statements is not correct?

• A)Consumers will likely benefit in the form of lower prices from buying a product made by a natural monopoly than if the market were served by several firms.
• B)Monopolists typically charge higher prices than competitive firms.
• C)Monopolists typically produce larger quantities of output than competitive firms.
• D)Consumers may benefit from monopolies if the firms invest their higher profits into something that benefits society such as medical research.

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Definitions:

Ocean Currents

Large-scale movements of water within the oceans that play a critical role in regulating the Earth's climate by distributing heat around the planet.

Asthenosphere

The semi-fluid layer of the Earth located below the lithosphere, allowing for plate tectonic movement.

Inner Core

The Earth's innermost layer, composed mainly of iron and nickel, solid due to extremely high pressure despite its high temperature.

Outer Atmosphere

The outermost layer of Earth's atmosphere, extending beyond the mesosphere, primarily composed of extremely low densities of hydrogen, helium, and other lighter gases.