A Monopolist Will Hire Fewer Workers Than a Perfectly Competitive

question 264

Multiple Choice

A monopolist will hire fewer workers than a perfectly competitive firm because

• A) the marginal product curve decreases as additional units of labor are hired for a monopoly but not for a competitive firm.
• B) there is a variety of employers in a competitive market and only one in a monopoly.
• C) marginal revenue is greater than price for a monopoly while marginal revenue is equal to price for a competitive firm.
• D) to sell an additional unit of the good the competitive firm will keep the price the same while the monopolist must lower it on all units sold.

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Definitions:

Cause Advocacy

The activity of fighting for, defending, or pleading on behalf of a cause or issue to bring about social change.

Case Advocacy

The act of actively supporting and representing a client’s interests or needs to obtain services or resources that enhance their well-being.

Vulnerability

A state or condition of being open to harm, damage, or attack.

The Adversary

Describes an entity or individual that opposes or competes against another, often used in legal, military, or competitive settings.