Which of the Following Is a Difference Between a Perfectly

question 93

Multiple Choice

Which of the following is a difference between a perfectly competitive market and a monopoly?

• A) There are huge barriers to entry in a perfectly competitive market, while there are no barriers to entry in a monopoly.
• B) Sellers in a perfectly competitive market are price-makers, while a seller in a monopoly market is a price-taker.
• C) The equilibrium price in a perfectly competitive market exceeds marginal revenue, while the equilibrium price in a monopoly equals marginal revenue.
• D) The market demand curve faced by a perfectly competitive firm is horizontal, while the market demand curve in a monopoly is downward-sloping.

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Definitions:

Zygote

The initial cell formed when a new organism is conceived by the union of an egg and a sperm cell, containing genetic information from both parents.

Testosterone

A steroid hormone that plays a key role in the development of male reproductive tissues as well as promoting secondary sexual characteristics such as increased muscle and bone mass, and the growth of body hair.

Rudimentary Form

The most basic or primitive stage of development.

Embryonic Stage

A period in prenatal development from approximately 2 to 8 weeks after fertilization, during which major body structures and organs begin to develop.