Which Phrase Would Be Most Characteristic of Pure Monopoly

question 94

Multiple Choice

Which phrase would be most characteristic of pure monopoly?

• A) close substitutes
• B) efficient advertiser
• C) price taker
• D) sole seller

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Definitions:

Fundamental Attribution Error

The tendency for observers to overemphasize dispositional or personality-based explanations for behaviors observed in others while underemphasizing situational explanations.

Success

The achievement of a set goal, objective, or desired outcome.

Embezzlement

The act of dishonestly withholding assets for the purpose of conversion of such assets, by one or more individuals to whom the assets were entrusted.

Perceptually Exaggerating

The cognitive bias or tendency to overestimate the significance or size of an object, event, or outcome.