Which of the Following Statements Is Not Correct

question 3

Multiple Choice

Which of the following statements is not correct?

• A)Consumers will likely benefit in the form of lower prices from buying a product made by a natural monopoly than if the market were served by several firms.
• B)Monopolists typically charge higher prices than competitive firms.
• C)Monopolists typically produce larger quantities of output than competitive firms.
• D)Consumers may benefit from monopolies if the firms invest their higher profits into something that benefits society such as medical research.

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Definitions:

Antihistamine

Medication that blocks histamine receptors to relieve allergy symptoms like itching, sneezing, and runny nose.

Emollient

A substance that softens and moisturizes the skin, often used to treat dry, rough, scaly, itchy skin and minor skin irritations.

Cow's Milk Allergy

An adverse immune reaction to one or more proteins found in cow's milk, which can affect infants and children.

Rhinitis

Inflammation and irritation of the mucous membrane inside the nose, often characterized by sneezing, itching, and a runny nose.