Most Markets Are Not Monopolies in the Real World Because

question 556

Multiple Choice

Most markets are not monopolies in the real world because

• A)firms usually face downward-sloping demand curves.
• B)supply curves slope upward.
• C)firms usually equate price with marginal cost.
• D)there are reasonable substitutes for most goods.

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Definitions:

Gratification

The satisfaction or pleasure felt when a need or desire is fulfilled.

Self-Cognitive Perspective

An approach in psychology that emphasizes the role of cognitive processes in understanding the self, including thoughts, beliefs, and attitudes towards oneself.

Personal Helplessness

A state in which an individual feels they lack control over situations and outcomes in their life, often leading to decreased motivation and depression.

Internal Locus

A psychological term referring to individuals who believe that they have control over the outcomes of their actions and the events in their lives.