In General,with a Monopolist's Outcome

question 80

Multiple Choice

In general,with a monopolist's outcome:

• A) consumers lose surplus.
• B) monopolies earn profit.
• C) deadweight loss occurs.
• D) All of these statements are true.

---

Definitions:

Delivery Gap

A type of service gap; the difference between the firm’s service standards and the actual service it provides to customers.

Service Standards

The levels of performance and quality that service providers commit to delivering to their customers.

Empowerment

In context of service delivery, means allowing employees to make decisions about how service is provided to customers.

Marketing of Services

Strategies and approaches used to promote and sell non-tangible products, such as banking, cleaning, or educational services.