Which of the Following Is True

question 172

Multiple Choice

Which of the following is true?

• A) A monopolist is always guaranteed to earn positive economic profits regardless of their cost of production or the price they charge.
• B) A monopolist will charge the highest price possible for their product because no matter what price they charge, people will still have to buy it.
• C) A monopolist has no incentive to find more cost-efficient methods of production because they are protected from competition from other sellers.
• D) None of the above are correct.

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Definitions:

Social Loafing

The tendency for individuals to exert less effort when working in a group than when working alone.

Group Behavior

The actions, interactions, and dynamics of individuals when they are part of a group, influenced by the collective's norms and goals.

Team Suggestions

Team Suggestions refer to the ideas or proposals put forward by the members of a team aimed at solving a problem, improving efficiency, or enhancing teamwork.

Integrated Involvement

Closeness achieved through tasks and activities.