Which of the Following Results Will Not Occur in a Monopolistic

question 42

Multiple Choice

Which of the following results will not occur in a monopolistic market?

• A) The monopolist will maximize profits by setting a price that's higher than marginal cost.
• B) The price will be higher than what would prevail in a competitive market.
• C) In monopoly pricing, income is, in effect, transferred from consumers to the monopolist.
• D) The output level will be higher than in a competitive market.

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Definitions:

Functionalists

A perspective in sociology and psychology that emphasizes the importance of understanding the purpose or function of behavior and social institutions.

Organism

A living entity capable of growth, reproduction, and response to stimuli.

Structuralists

Psychologists who analyze the basic elements of thoughts and sensations to understand the structure of the mind.

Behavior

The actions or reactions of an object or organism, usually in relation to the environment.