What Is the Key Issue in Determining the Efficiency of Public

question 2

Multiple Choice

What is the key issue in determining the efficiency of public versus private ownership of a monopoly

• A)the tendency for efficient management of publicly owned enterprises
• B)the inability of private monopolies to get rid of ineffective managers
• C)the propensity of private monopolies to generate excessive profits
• D)how ownership of the firm affects the cost of production

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Definitions:

Physiological Needs

Basic physical requirements essential for human survival, such as food, water, shelter, and sleep, considered the foundation of Maslow's hierarchy of needs.

Lower-order Needs

Basic human needs in Maslow’s hierarchy, such as physiological and safety needs, which must be satisfied before higher-order needs can be pursued.

Maslow's Hierarchy of Needs Theory

A psychological theory that categorizes human needs into a five-level pyramid, starting from basic physiological needs to self-actualization.

Higher-order Needs

Psychological needs that are associated with personal achievement, self-respect, and the recognition and respect of others.