Which of the Following Firms Best Fits the Definition of a Monopoly

question 163

Multiple Choice

Which of the following firms best fits the definition of a monopoly?

• A) McDonald's, because it is the only firm who produces the Big Mac
• B) a local cable company that has been granted the only license to sell cable in a city by the town council
• C) Ford Motor Company, because there are significant economies of scale in the production of automobiles
• D) Harvard University, because it has a reputation as being one of the top universities in the country

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Definitions:

Neural Message

The information conveyed by neurons through electrical and chemical signals across synapses to communicate with other neurons, muscles, or glands.

Resting Potential

The electrical charge difference across the neuronal membrane when the neuron is not actively firing.

Action Potential

A brief electrical impulse by which information is transmitted along the axon of a neuron.

Wernicke's Aphasia

A language disorder caused by damage to the Wernicke's area of the brain, leading to difficulty in understanding spoken language and producing coherent sentences.