Most Firms Are Not Monopolies in the Real World Because

question 137

Multiple Choice

Most firms are not monopolies in the real world because

• A)firms usually face downward-sloping demand curves
• B)supply curves slope upward
• C)price is usually set equal to marginal cost by firms
• D)monopolies are not efficient
• E)there are substitutes for most goods

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Definitions:

French Catholics

Members of the Catholic Church residing in France, a demographic that has played significant roles in French history, particularly during conflicts over secularism and the relationship between church and state.

Slave Trade

The historical trade in which human beings were bought and sold as property, predominantly across the Atlantic Ocean from Africa to the Americas.

Eighteenth Century

The period from 1701 to 1800, marked by significant developments in science, philosophy, and politics in Europe.

Tories

Originally a term for a political faction in Great Britain, often associated with conservatism and the defense of the monarchy against reformist pressures.