An Important Assumption About a Monopoly Is That It Behaves

question 136

Multiple Choice

An important assumption about a monopoly is that it behaves as a:

• A)price maximiser
• B)profit maximiser
• C)revenue maximiser
• D)wage minimiser

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Definitions:

Prokaryotes

Microorganisms characterized by the absence of a distinct nucleus and other organelles, including bacteria and archaea.

Gene Pool

The complete set of unique alleles in a species or population.

Genetic Drift

Mechanism of evolution due to random changes in the allelic frequencies of a population; more likely to occur in small populations or when only a few individuals of a large population reproduce.

Adaptive Radiation

Rapid evolution of several species from a common ancestor into new ecological or geographic zones.