A Monopoly Differs from Monopolistic Competition in That

question 248

Multiple Choice

A monopoly differs from monopolistic competition in that

• A)a monopoly has market power while a firm in monopolistic competition does not have any market power.
• B)a monopoly can never make a loss, but a firm in monopolistic competition can.
• C)in a monopoly there are significant entry barriers, but there are low barriers to entry in a monopolistically competitive market structure.
• D)a monopoly faces a perfectly inelastic demand curve while a monopolistic competitor faces an elastic demand curve.

---

Definitions:

Multidisciplinary Program

A program that involves experts from multiple fields of study working together towards a common goal.

Discipline

A branch of knowledge, typically one studied in higher education or a field of study.

Study

The act of applying one's mind to learning or understanding a subject, through reading, observation, or research.

Superinfection

An infection following a previous infection, especially when caused by microorganisms that are resistant or have become resistant to the antibiotics used earlier.