One of the Major Differences Between a Monopolist and a Purely

question 227

Multiple Choice

One of the major differences between a monopolist and a purely competitive firm is that the monopolist has a _____ demand curve,while the purely competitive firm has a _____ demand curve.

• A)downward-sloping;perfectly elastic
• B)perfectly inelastic;perfectly elastic
• C)downward-sloping;perfectly inelastic
• D)perfectly elastic;downward-sloping

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Definitions:

Customers on Account

Refers to the sales made by a business where the payment is to be received at a later date, recorded as accounts receivable.

Cash Account Balance

The amount of money that is available in a company's or individual's cash account at any given time.

Cash Payments

Disbursements of money to fulfill liabilities or acquire goods and services.

Cash Receipts

The collection of money, including coins, notes, checks, and electronic transfers, received by a business.