Which of the Following Is NOT True About a Monopoly

question 148

Multiple Choice

Which of the following is NOT true about a monopoly?

• A)The demand curve for a monopoly's product is perfectly elastic
• B)For any given quantity the price of the monopoly's product will exceed the marginal revenue from that amount.
• C)If the monopoly maximizes profit it will charge a price that exceeds marginal cost.
• D)It must adjust output until marginal revenue equals marginal cost to maximize profit.

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Definitions:

Good Faith

Honesty in fact.

Employment-at-will Doctrine

A legal principle stating that an employment relationship can be terminated at any time by either the employer or the employee, for any reason not prohibited by law.

Family and Medical Leave Act

U.S. legislation that grants eligible employees the right to take unpaid, job-protected leave for specified family and medical reasons.

Paid Leave

Employer-provided time off work that is compensated, including for reasons such as vacation, illness, or family care.