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:

Token Economy

A form of behavior modification based on the systematic reinforcement of target behavior, through the use of tokens that can be exchanged for other rewards.

Fixed-Ratio Schedule

A reinforcement schedule in operant conditioning where a response is reinforced only after a specified number of responses have occurred.

Intensive Study

An in-depth investigation or analysis concentrated on a specific subject or phenomenon over a limited period.

Single Subject

Research design typically used in the fields of psychology and education to measure the response of an individual to an intervention.