Which of the Following Statements About the Differences Between Monopoly

question 120

Multiple Choice

Which of the following statements about the differences between monopoly and perfect competition is incorrect?

• A)A monopolist has market power, while a perfect competitor does not.
• B)Unlike a perfectly competitive firm, a monopoly can make positive economic profits in the long run.
• C)A monopoly will charge a higher price and produce a smaller quantity than a competitive market with the same demand and cost structure.
• D)Monopoly profits can continue to exist in the long run because the monopoly produces more and charges a higher price than a comparable perfectly competitive industry.

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Definitions:

Stem Tissue

The supportive and conductive tissues in the stem of a plant, responsible for transporting nutrients and water throughout the plant.

Whisk Ferns

Primitive, seedless vascular plants belonging to the genus Psilotum, characterized by their simple, whisk-like appearance without true leaves or roots.

Dichotomous Branching

A form of plant or fungal growth where branches repeatedly divide into two parts, leading to a 'Y'-shaped pattern.

Xylem

The vascular tissue in plants responsible for the conduction of water and nutrients from the roots to the rest of the plant.