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

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Definitions:

Nonsteroidal Antiinflammatory

A class of drugs that reduce pain, decrease fever, prevent blood clots, and in higher doses, decrease inflammation.

Ibuprofen

A nonsteroidal anti-inflammatory drug (NSAID) used to relieve pain, reduce fever, and decrease inflammation.

Aspirin

An over-the-counter medication used to reduce pain, fever, inflammation, and, at low doses, to prevent blood clots.

Gastrointestinal Bleed

Bleeding that occurs within the gastrointestinal tract; can be from the esophagus, stomach, small intestine, or colon.