Because Monopoly Firms Do Not Have to Compete with Other

question 213

Multiple Choice

Because monopoly firms do not have to compete with other firms, the outcome in a market with a monopoly is often

• A)not in the best interest of society.
• B)one that fails to maximize total economic well-being.
• C)inefficient.
• D)All of the above are correct.

---

Definitions:

Posi-Drive Screw

A type of screw designed with a unique drive system that reduces the risk of cam-out and increases the efficiency of torque transmission.

Phillips Screw

A type of screw with a cross-shaped slot on its head, designed by Henry F. Phillips.

Higher Torque

Refers to a greater twisting force typically achieved by an engine or motor, resulting in increased ability to perform work, especially in moving heavier loads.

Standard Micrometer

A precision measuring instrument used to measure small distances, thicknesses, or diameters with high accuracy, typically in machining and engineering.