If a Perfectly Competitive Market Becomes a Monopoly and the Costs

question 174

Multiple Choice

If a perfectly competitive market becomes a monopoly and the costs do not change, which of the following allocations of costs and benefits applies?

• A) The producer benefits, but consumers and society are harmed.
• B) The producer and society are harmed, but consumers benefit.
• C) The producer and society benefit, but consumers are harmed.
• D) The producer is harmed, but consumers and society benefit.

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Definitions:

Prevalence

Prevalence is a measure of how common a particular condition or behavior is within a specific population at a given time.

Cognitive-behavioral Model

A psychological approach that emphasizes the interplay between thoughts, feelings, and behaviors, and how altering one can impact the others.

Psychological Disorders

Disorders characterised by behavioral, cognitive, emotional, or thought patterns that are abnormal and cause distress or impairment in daily functioning.

Mentally Disturbed

A term describing individuals who experience disruptions in their thought processes or emotions, affecting their behavior and functionality.