In Some Situations a Monopoly Might Be Considered More Desirable

question 31

Multiple Choice

In some situations a monopoly might be considered more desirable than a perfectly competitive firm:

• A) Because a monopoly has more incentive to keep costs down.
• B) Because a monopoly is the best way to increase output above the competitive level of production.
• C) If economies of scale exist and can only be realized by a single firm.
• D) Since price is less than marginal revenue for a monopoly.

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Definitions:

REM

Rapid Eye Movement, a phase of sleep characterized by quick movements of the eyes, increased respiration rate, and vivid dreams.

N2

A component of the Event-Related Potential (ERP) that is associated with cognitive control and the detection of novelty.

Barbiturates

Depressant drugs that have a sedative effect.

Drug Interaction

Drug interaction involves the modification of the effect of one drug by the prior or concurrent administration of another drug, which can enhance or diminish the overall effect.