Which of the Following Is Correct

question 81

Multiple Choice

Which of the following is correct?

• A) Both purely competitive and monopolistic firms are "price takers."
• B) Both purely competitive and monopolistic firms are "price makers."
• C) A purely competitive firm is a "price taker," while a monopolist is a "price maker."
• D) A purely competitive firm is a "price maker," while a monopolist is a "price taker."

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Definitions:

Savings Account

A bank account where people can deposit money to earn interest over time, with fewer withdrawal facilities.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.

Discouraged Workers

Individuals who have stopped looking for employment due to repeated failure to find work, and are no longer counted as part of the labor force.

Labor Force

The total number of people employed or actively seeking employment in a given country or region.