Which of the Following Statements Is False

question 75

Multiple Choice

Which of the following statements is false?

• A)The perfectly competitive firm and the perfectly price-discriminating monopolist both exhibit resource-allocative efficiency.
• B)The perfectly competitive firm, unlike the single-price monopolist, exhibits resource-allocative efficiency.
• C)The perfectly competitive firm charges the same price for each unit of the good it sells.
• D)The perfectly price-discriminating monopolist charges the same price for each unit of the good it sells.

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Definitions:

Plantwide Overhead Rate Method

A method of allocating manufacturing overhead costs to products based on a single, plant-wide rate, often using direct labor hours or machine hours as the allocation base.

Cost Objects

Any item for which a separate measurement of costs is desired; examples include a product, a service, a project, or a customer.

ABC

Can refer to Activity-Based Costing, a method of assigning costs to products or services based on the resources they consume.

Activities

In a business context, activities refer to the various tasks, operations or functions performed within the organization to achieve its objectives.