Identify the True Statement from the Following List

question 79

Multiple Choice

Identify the true statement from the following list.

• A)a monopoly firm is a price taker and has no supply curve
• B)a monopoly firm has an downward-sloping supply curve and is a price maker
• C)a monopoly firm has an upward-sloping supply curve and is a price taker
• D)a monopoly firm has no supply curve and is a price maker

---

Definitions:

Liabilities

Financial obligations or debts that a company owes to others, arising during the course of its operations.

Goods or Services

Products or activities provided by a business to customers in exchange for payment.

Revenue Recognition Principle

Revenues are recognized when the company transfers promised goods or service to customers in the amount it expects to receive.

Transferred

Transferred refers to the process of moving assets, responsibilities, or rights from one entity to another.