Which Is the Most Accurate Statement

question 106

Multiple Choice

Which is the most accurate statement?

• A)All monopolists are very large companies.
• B)IBM is an example of a monopoly.
• C)In order to maintain monopolies,there must be barriers to market entry.
• D)Nearly all monopolies are very profitable.
• E)Public utilities are examples of natural monopolies.

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Definitions:

Neoclassical Economics

A framework in economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand, emphasizing rationality and marginal utility.

Sense of Fairness

An individual's perception of the balance and justice in social interactions and distribution of resources.

Dictator Game

A behavioral experiment that tests how fairly individuals act towards others when given the unilateral power to determine the distribution of a resource.

Nudges

Subtle policy measures or cues that encourage people to make decisions that are in their broad self-interest without restricting their freedom of choice.