Which of the Following Statements Is Correct

question 325

Multiple Choice

Which of the following statements is correct?

• A)Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization.
• B)Monopoly firms are sheltered from competitive forces, and such an environment makes them subject to X-inefficiency.
• C)Monopoly firms are in industries with low barriers to entry that tend to lower the cost of producing products.
• D)Competitive firms tend to be more efficient than monopolist firms because they maximize per unit profits, not total profits.

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Definitions:

English Nation

Pertains to the people, culture, and institutions originating from England, a country in the United Kingdom.

1600

A year marking the turn of the 17th century, notable for its position in the early modern period and events like the establishment of the British East India Company.

Religious Freedom

The right to practice one's religion without interference or repression from the government or other individuals.

Church and State

Refers to the relationship and boundaries between organized religion and the nation's government, often emphasizing the principle of separation to ensure religious freedom.