Which One of the Following Is the Best Description of a Monopolist

question 157

Multiple Choice

Which one of the following is the best description of a monopolist?

• A) a firm that produces a single product
• B) a firm that is the sole producer of a narrowly defined product class, such as yellow, grade-A butter produced in Jackson County, Wisconsin
• C) a firm that is the sole producer of a product for which there are no good substitutes in a market with high barriers to entry
• D) a firm that is large relative to its competitors

Understand the concept of social inequality and its effects in society.

Describe the distribution of wealth and income in different societies.

Identify different social classes and strata within societies.

Recognize the historical and cultural contexts that influence social stratification.

---

Definitions:

Genes

Sequences of DNA that determine characteristics and are inherited from one's parents.

Polygenic

Resulting from many genes.

Monogenic

Describes a trait or condition determined by a single gene, often contrasting with polygenic traits which are influenced by multiple genes.

Simple Sugar

Basic forms of carbohydrates that can be quickly absorbed and utilized by the body for energy.