Which Statement Is False

question 5

Multiple Choice

Which statement is false?

• A)A monopoly is both a firm and an industry.
• B)A monopoly is an imperfect competitor.
• C)There are monopolies in the United States at the regional and local levels.
• D)None of these statements are false.

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Definitions:

Interest Income

Earnings received from deposit accounts like savings or money market accounts, certificates of deposit, or income from bonds and loans made to others, calculated as a percentage of the principal amount.

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Socialist

A person who advocates for or supports the political and economic theory of socialism, which emphasizes public or community ownership and administration of the means of production and distribution of goods.

Utopian

Relating to an imagined perfect society where everything is ideal, often used to describe unrealistic or idealized concepts for societal organization.