If a Monopoly Can Produce a Good at Zero Marginal

question 121

Multiple Choice

If a monopoly can produce a good at zero marginal cost,then its Lerner Index is

• A) zero.
• B) one.
• C) infinity.
• D) undetermined.

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Definitions:

Deficiency Needs

In Maslow's hierarchy of needs, these are the basic requirements for human survival and psychological well-being, such as food, safety, and belonging.

Security Needs

Basic human requirements for safety and security, covering physical safety, employment, resources, health, and property, among others, following Maslow's hierarchy of needs.

Hygiene Factors

Elements of the work environment that are related to job satisfaction, which, when absent, can lead to dissatisfaction but, when present, do not necessarily motivate employees.

Expectancy Model

A psychological theory proposing that individuals are motivated to act based on the expected outcomes of their behavior and the value they place on those outcomes.