It Is Possible for a Monopolist to Be More Efficient

question 70

Multiple Choice

It is possible for a monopolist to be more efficient than a perfectly competitive firm if _____.

• A) the monopolist charges a higher price for its output than does the competitive firm
• B) the monopolist's marginal cost curve lies below that of the competitive firm
• C) the monopolist offers a lower level of output for sale than does the competitive firm
• D) the monopolist practices price discrimination

---

Definitions:

Better-educated

Referring to individuals who have attained a higher level of education, usually implying a greater depth of knowledge or expertise.

Extraverted

Describes a personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Interpreting Sarcasm

The cognitive ability to detect and understand the use of sarcasm, where the intended meaning of a statement is often the opposite of its literal meaning.

Humour

encompasses the quality of being amusing or comical, often facilitating laughter or providing entertainment.