Which of the Following Statements Is Correct

question 316

Multiple Choice

Which of the following statements is correct?

• A) Monopolies are guaranteed to earn an economic profit.
• B) The market demand and the firm's demand are the same for a monopoly.
• C) Monopolies have perfectly inelastic demand for the product sold.
• D) Because a monopoly is the only firm in the market, its supply curve is the same as the market demand curve.
• E) Because a monopoly is the only firm in the market, its marginal revenue curve must be the same as the market demand curve.

---

Definitions:

Private Accountant

An accountant who is employed by a single organization to perform financial duties such as audits, budgeting, and financial statement preparation internally.

Public Accountant

A certified professional who provides accounting services to the public, including auditing, tax advice, and financial consulting.