The Demand Curve for the Output of a Certain Industry

question 52

Multiple Choice

The demand curve for the output of a certain industry is linear; q = A - Bp. There are constant marginal costs of C. For all values of A, B, and C such that A > 0, B > 0, and 0 < C < ,

• A) if the industry is monopolized, prices will be exactly twice as high as they would be if the industry were competitive.
• B) if the industry is competitive, output will be exactly twice as great as it would be if the industry were monopolized.
• C) if the industry is monopolized, prices will be more than twice as high as if the industry is competitive.
• D) if the industry is monopolized, output will be more than half as large as it would be if the industry were competitive.
• E) None of the above.

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Definitions:

Ego Resiliency

A personality trait depicting an individual's ability to adapt flexibly and recover from stress or adverse situations.

Ego Control

In Jack Block’s personality theory, the psychological tendency to inhibit the behavioral expression of motivation and emotional impulse. At the extremes, people may be either undercontrolled or overcontrolled.

Neuroticism/Extraversion

Personality traits where neuroticism involves emotional instability and extraversion involves being outgoing and energetic.

Negative Emotionality/Positive Emotionality

Refers to the tendency of individuals to experience negative or positive emotions more frequently or intensely, indicating a fundamental aspect of personality.