Which Statement Is True

question 95

Multiple Choice

Which statement is true?

• A)Despite the fact that the Wrigley family lost money in the many years they owned the Chicago Cubs,they were operating in the long run since they owned the team for many decades.
• B)There is no way to distinguish between the long run and the short run if a monopoly is making a profit.
• C)The National Football League used legal barriers to maintain its monopoly status up until the development of the American Football League in the early 1960s.
• D)All of the statements are true.

---

Definitions:

Substitutes In Consumption

Refers to goods or services that can replace each other in use, fulfilling similar needs or desires.

Price Of Rice

The cost at which rice is sold, which can vary depending on type, quality, and market conditions.

Bumper Crop

An unusually large harvest of crops, often due to favorable growing conditions.

Technological Change

Technological change encompasses the improvements in technology that enhance productivity or efficiency in the production or delivery of goods and services.