Which of the Following Statements Is True

question 66

Multiple Choice

Which of the following statements is true?

• A)If a tax is imposed on a product sold by a monopolist, the monopolist will maximize its profits by producing where marginal revenue equals marginal cost.
• B)A monopolist will always charge the highest possible price.
• C)If a tax is imposed on a product sold by a monopolist, the monopolist can increase its price to pass along the entire tax to consumers.
• D)Because a monopolist faces no competition, the demand for its product is perfectly inelastic.

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Definitions:

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A social phenomenon wherein the victim of a crime or any wrongful act is held entirely or partially responsible for the harm that befell them.

Blaming The System

A perspective that holds that systemic discrimination exists within the social system.

Social Policy

A government's course of action designed to influence the welfare and well-being of its citizens, through interventions in areas such as health, education, and social security.

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This term refers to the various ways in which poverty is understood, identified, and measured across different societies and scholarly disciplines.