Whenever a Firm Can Charge a Price Greater Than Marginal

question 67

Multiple Choice

Whenever a firm can charge a price greater than marginal cost,

• A)the firm must be a monopolist.
• B)there is some loss of economic efficiency.
• C)consumers have the ability to choose a close substitute.
• D)the firm will earn economic profits.

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Definitions:

Comforting Talks

Conversational exchanges aimed at providing emotional support and reassurance.

Electrical Brain Stimulation

A medical treatment involving the application of electrical impulses to specific brain areas to treat various neurological and psychiatric disorders.

Electroconvulsive Therapy (ECT)

A medical treatment most commonly for severe depression that involves electrical stimulation of the brain while the patient is under anesthesia.

Transcranial Magnetic Stimulation (TMS)

A non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain to improve symptoms of depression.