Which of the Following Is True

question 125

Multiple Choice

Which of the following is true?

• A) A monopolist produces on the inelastic portion of its demand.
• B) A monopolist always earns an economic profit.
• C) The more inelastic the demand, the closer marginal revenue is to price.
• D) In the short run, a monopoly will shut down if P < AVC.

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Definitions:

Olfactory Receptors

Olfactory receptors are specialized proteins located in the olfactory epithelium that detect and respond to odor molecules, allowing for the sense of smell.

Smell

The sensory perception of odors or scents, detected by the olfactory system in the nose.

Mechanoreceptors

Mechanoreceptors are sensory receptors that respond to mechanical pressure or distortion, involved in sensations such as touch, pressure, and sound.

Excited By

Stimulated or activated by an external source, leading to an increased level of energy or activity.