A Pure Monopoly

question 180

Multiple Choice

A pure monopoly

• A)is the only firm that produces all of the products its competitors produce
• B)is the single seller of a unique product
• C)is bigger than all its competitors combined
• D)has only one customer
• E)is always profitable in the short run

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Definitions:

Criminal Act

A criminal act is an action or omission that constitutes an offense punishable by law.

Fifth Amendment

An amendment to the U.S. Constitution that provides several protections to individuals, including against self-incrimination and double jeopardy.

Self-Incrimination

The act of implicating oneself in a crime, which is protected against under the Fifth Amendment of the U.S. Constitution, allowing individuals to refuse to testify against themselves.

Professional Corporation

A business entity formed by licensed professionals, such as lawyers, doctors, or accountants, with the purpose of offering services within their profession.