A Major Difference Between a Monopolist and a Perfectly Competitive

question 250

Multiple Choice

A major difference between a monopolist and a perfectly competitive firm is that

• A) the monopolist is certain to earn economic profits.
• B) the monopolist's marginal revenue curve lies below its demand curve.
• C) the monopolist engages in marginal cost pricing.
• D) the monopolist charges the highest possible price that he can.

Identify the limitations of the First Amendment concerning free speech and commercial speech.

Recognize the principles governing the protection of individual privacy under the U.S. Constitution.

Distinguish between the different types of speech protected under the First Amendment.

Analyze the constitutionality of state and federal laws affecting commercial operations and personal freedoms.

---

Definitions:

Credibility

The quality of being trusted and believed in, often based on a reputation for honesty or reliability.

Threat

An influence technique that is a communication taking the general form, “If you don’t do X (which I want), then I will do Y (which you don’t want).” See also Promise.

Reactance

Resistance to persuasion attempts that occurs when the persuasion attempt threatens the independence or freedom of the target.

Boomerang Effect

A phenomenon where an attempt to change behavior results in the opposite effect, particularly in persuasive communication.