Monopolies Are Sometimes More Technologically Efficient Than Perfectly Competitive Markets

question 8

True/False

Monopolies are sometimes more technologically efficient than perfectly competitive markets.

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Definitions:

External Attributions

The process of inferring that a person's behavior is due to situational factors, rather than aspects of the individual themselves.

Internal Attributions

Internal attributions refer to the explanation of an individual's behavior as due to personal factors, such as traits, abilities, or feelings.

Stable Attributions

The tendency to explain an individual's behavior as resulting from consistent and unchanging factors.

Self-serving Bias

A cognitive bias that involves perceiving oneself in a way that is overly favorable, such as attributing successes to personal attributes but failures to external factors.