Which of the Following Statements Is Correct

question 149

Multiple Choice

Which of the following statements is correct?

• A)The benefits that accrue to a monopoly's owners are equal to the costs that are incurred by consumers of that firm's product.
• B)The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing monopoly firm produces a quantity of output that exceeds the socially-efficient quantity.
• C)The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a product.
• D)The primary social problem caused by monopoly is monopoly profit.

Analyze the functional prerequisites necessary for the survival and operation of social systems.

Recognize the critiques of structural functionalism in terms of its handling of social change, conflict, and cohesion.

Differentiate between various forms of differentiation in society per Talcott Parsons' theory.

Grasp the concept of dysfunctions in social structures and institutions as identified by Robert Merton.

---

Definitions:

Graduation Rates

The percentage of students who complete their studies and receive a degree or diploma within a given time frame.

Employment Rates

The percentage of the labor force that is currently employed.

Election of Remedies

The election of remedies is a legal principle that requires a wronged party to choose a single legal remedy among several available, thereby preventing multiple recoveries for the same injury.

Specific Performance

A legal remedy requiring a party to execute a contract according to the precise terms agreed on, rather than paying damages.