Which of the Following Statements Is True

question 82

Multiple Choice

Which of the following statements is true?

• A)If a tax is imposed on a product sold by a monopolist, the monopolist will maximise its profits by producing where marginal revenue equals marginal cost.
• B)A monopolist will always charge the highest possible price.
• C)If a tax is imposed on a product sold by a monopolist, the monopolist can increase its price to pass along the entire tax to consumers.
• D)Because a monopolist faces no competition, the demand for its product is perfectly inelastic.

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Definitions:

Repressors

Proteins that bind to specific DNA sequences and inhibit the transcription of genes, playing a crucial role in gene regulation.

Inducers

Substances that increase the rate of enzyme activity or gene expression.

Missense Mutation

A type of genetic mutation where a single nucleotide change results in the coding of a different amino acid, potentially altering protein function.

Lac Operon

The lac operon is a segment of DNA found in bacteria that consists of genes necessary for metabolizing lactose, serving as a classic example of gene regulation.