Which of the Following Is Not a Reason for the Existence

question 645

Multiple Choice

Which of the following is not a reason for the existence of a monopoly?

• A)sole ownership of a key resource
• B)patents
• C)copyrights
• D)diseconomies of scale

Understand Goodstein's characteristics of scientific enquiry.

Identify examples of pseudoscience.

Understand the principles for determining the cause of behavior.

Distinguish between basic and applied research.

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Definitions:

Hurricane Andrew

A powerful and destructive category 5 Atlantic hurricane that struck the Bahamas, Florida, and Louisiana in August 1992.

Excess Supply

A situation in which the quantity of a good or service supplied is greater than the quantity demanded at a given price, often leading to a surplus.

Price Cheeseburger

The amount of money required to purchase a cheeseburger in a given market or location.

Excess Demand

A situation in a market where the quantity demanded of a good or service surpasses the quantity supplied at the current price.