Which of the Following Is True

question 172

Multiple Choice

Which of the following is true?

• A) A monopolist is always guaranteed to earn positive economic profits regardless of their cost of production or the price they charge.
• B) A monopolist will charge the highest price possible for their product because no matter what price they charge, people will still have to buy it.
• C) A monopolist has no incentive to find more cost-efficient methods of production because they are protected from competition from other sellers.
• D) None of the above are correct.

---

Definitions:

Diffusion

The process by which a new idea, product, or behavior spreads within a population.

Professionals

Skilled individuals who work in a specific profession, often requiring specialized knowledge and prolonged academic preparation.

Diffusion

The process by which an innovation, idea, or behavior spreads within a population or societal system.

Richard Walton

A notable figure in the field of industrial relations, known for his contributions to labor management and organizational behavior.