Which of the Following Statements Is False

question 52

Multiple Choice

Which of the following statements is false?

• A)The monopolistic competitor, like the perfectly competitive firm, is resource-allocative efficient.
• B)The monopolistic competitor produces that quantity of output at which price equals marginal cost.
• C)The monopolistic competitor produces the quantity of output with the lowest per-unit costs.
• D)a, b, and c

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Definitions:

Stateville

A reference to Stateville Correctional Center, a maximum-security state prison for men in Crest Hill, Illinois, USA.

Discretion

The freedom to decide what should be done in a particular situation, often used in legal and law enforcement contexts.

Probable Cause

A reasonable basis for believing that a crime may have been committed, which is used as a standard by law enforcement to obtain warrants for arrests and searches.