Which of the Following Statements Is False

question 27

Multiple Choice

Which of the following statements is false ?

• A)For a price taker, P > MR, but for a price searcher, P = MR.
• B)A monopoly firm's demand curve lies above its marginal revenue curve.
• C)A single-price monopolist charges the same price for all units of its product.
• D)If a single-price monopolist sells the first unit of its product for $11, it cannot sell two units of its product for $11 each.

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Definitions:

Quickly Scanning

Quickly scanning refers to rapidly reviewing or looking over material to grasp the main ideas or locate specific information.

Atkinson-Shiffrin Theory

A model of memory proposed by Richard Atkinson and Richard Shiffrin that describes human memory as having three key stages: sensory memory, short-term memory, and long-term memory.

Short-term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period of time.

Sensory Memory

The shortest-term element of memory, it's the ability to retain impressions of sensory information after the original stimuli have ended, acting almost as a buffer for stimuli through the senses.