A Monopolistic Firm

question 3

Multiple Choice

A monopolistic firm

• A) will never sell a product whose demand is inelastic at the quantity sold.
• B) can sell as much as it wants for any price it determines in the market.
• C) cannot determine the price, which is determined by consumer demand.
• D) cannot sell additional quantity unless it raises the price on each unit.
• E) will always earn a profit in the long run.

---

Definitions:

Locus Of Control

A psychological concept referring to an individual's belief about the extent to which their actions can influence the events that affect them.

Heterosexuality

A sexual orientation characterized by an exclusive or predominant attraction to individuals of the opposite sex.

Discrimination

In psychology, the ability to respond differently to similar but distinct stimuli.

Prejudice

A preconceived opinion or judgment formed without just grounds or before sufficient knowledge, often based on stereotypes.