Which of the Following Statements Is FALSE

question 355

Multiple Choice

Which of the following statements is FALSE?

• A) An unregulated, profit-maximizing monopolist will not operate in the inelastic portion of the demand curve.
• B) The marginal revenue earned by a monopolist will always be less than the product's price.
• C) Typically there are numerous very close substitutes for the product of a monopolist.
• D) For a profit-maximizing monopolist, marginal revenue equals marginal cost.

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Definitions:

De-Icing Fluid

A chemical solution applied to surfaces, such as roads or aircraft, to melt ice and prevent re-freezing.

Brake Systems

Systems designed to slow down or stop a vehicle by converting kinetic energy into thermal energy, typically involving components like pads, rotors, and fluids.

FMVSS-121

Federal Motor Vehicle Safety Standard 121, which outlines the requirements for air brake systems in commercial vehicles to ensure safe stopping distances.

Disc Brakes

Vehicle brake system in which squeeze pressure is applied to a rotor by a caliper. Both pneumatic and hydraulic disc brakes are used on trucks.