Which of These Is a Key Difference Between a Perfectly

question 154

Multiple Choice

Which of these is a key difference between a perfectly competitive firm and a monopolist that does not practice price discrimination?

• A)The marginal cost curve is U-shaped for a perfectly competitive firm but not for a monopolist.
• B)Price is equal to average revenue for a perfectly competitive firm in equilibrium but not for a monopolist.
• C)Price is equal to marginal revenue for a perfectly competitive firm in equilibrium but not for a monopolist.
• D)The average revenue curve is the demand curve for a perfectly competitive firm but not for a monopolist.
• E)A monopolist aims to maximize profits, while a perfectly competitive firm tries to maximize total revenue.

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Definitions:

Free-Rein Leaders

Leadership style where authority is delegated to employees, empowering them to make decisions and solve problems independently.

Subordinates

Employees or team members who are lower in rank or position and report to someone higher in the organizational hierarchy.

Communicate

The act or process of sharing or exchanging information, messages, or ideas through speech, writing, visual forms, or other mediums.

Empowered

Refers to giving power or authority to someone, often employees, enabling them to make decisions and take actions independently.