Which of the Following Statements Is Not Correct

question 102

Multiple Choice

Which of the following statements is not correct?

• A)A monopolist's ability to act as a price setter guarantees economic profits in the short run.
• B)The monopolist's marginal revenue is less than the price for any output greater than one.
• C)A monopolist's demand curve is the same as the market demand curve for the product.
• D)In the long run,a monopolist will experience only positive or zero economic profits.

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Definitions:

Punitive Damages

Punitive damages are compensation awarded in a lawsuit as a punishment to the defendant for egregious wrongdoing and as a deterrent against future similar actions.

Civil Court

A court dealing with non-criminal cases, usually involving private disputes between individuals or organizations.

Compensation

Payment or reward given to someone in recognition of loss, suffering, or injury.

Federal Court

Federal court refers to a system of courts that have jurisdiction over legal disputes governed by federal law, including disputes between states, constitutional issues, and matters involving the federal government.