In Monopoly

question 15

Multiple Choice

In monopoly:

• A)a basic condition for efficiency is violated because P > MC.
• B)consumers are confronted with a price that is lower than marginal cost.
• C)consumers will buy more of the good than is economically efficient.
• D)consumers are confronted with a price that is lower than average total cost.

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Definitions:

Concordance

A concept used in behavioural research into the genetic bases of psychiatric disorders. When the disorder that characterizes one person, called the index case or proband, also occurs in another person, the two are said to display concordance. The degree of concordance is thought to reveal the influence of genetics.

Hans Selye

A pioneering Hungarian-Canadian endocrinologist who is best known for his research on the effects of stress on the human body and developing the concept of the General Adaptation Syndrome.

Sigmund Freud

A neurologist and the founder of psychoanalysis, known for his theories of the unconscious mind and psychosexual development.

Fear of Horses

Known as Equinophobia, it is an intense and irrational fear of horses, often resulting from negative experiences or genetics.