Which of the Following Statements Is Correct

question 293

Multiple Choice

Which of the following statements is correct?

• A)Firms with some degree of monopoly power are common, but firms with substantial monopoly power are rare.
• B)Firms with some degree of monopoly power are rare, as are firms with substantial monopoly power.
• C)Firms with some degree of monopoly power are common, as are firms with substantial monopoly power.
• D)Firms with some degree of monopoly power are rare, but firms with substantial monopoly power are common.

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Definitions:

Mental Deficiencies

A term describing limitations in cognitive functioning and behavioral abilities, ranging from mild to severe, that can affect an individual's day-to-day life and learning.

Adjudicated Insane

A legal determination made by a court that an individual lacks the mental capacity to manage their own affairs or to understand the nature of a criminal act.

Voidable

A term describing a legal contract or action that may be nullified or terminated at the discretion of one or both parties involved.

Covenant Not to Compete

An agreement where one party agrees not to enter into or start a similar profession or trade in competition against another party.