An Important Difference Between Perfect Competition and Monopoly Is

question 20

Multiple Choice

An important difference between perfect competition and monopoly is

• A) a monopoly is profitable and a perfect competitor is not.
• B) the monopoly faces a downward sloping demand curve and the perfect competitor faces a horizontal demand curve.
• C) the monopoly faces an inelastic demand curve and the perfect competitor faces an elastic demand curve.
• D) a monopoly is not regulated by the market, while a perfect competitor is regulated by the market.

---

Definitions:

Entire Organization

Refers to all aspects and components of a business or institution, encompassing its structure, culture, employees, and operations.

Implicit Leadership Theories

Personal assumptions about the traits and abilities that characterize an ideal organizational leader.

Socialization

The process by which individuals learn and adopt the norms, customs, values, and behaviors appropriate to their society or social group.

Influence Outcome

The result of actions or strategies designed to affect the decisions, behaviors, or perceptions of others within an organizational or social context.