An Attempt by a Firm to Create a Monopoly and Gain

question 137

Multiple Choice

An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called

• A) collusion.
• B) intrusion.
• C) profit seeking.
• D) rent seeking.

---

Definitions:

Gross Earnings

Definition: The total amount of money earned by an individual or entity before any deductions are made.

Commission Rate

The percentage of a sale price paid to the salesperson or agent responsible for facilitating the transaction.

Base Salary

The initial rate of compensation an employee receives from an employer, excluding any extra benefits like bonuses or overtime pay.

Hourly Rate

A fixed amount of money paid for each hour of work performed.