An Important Difference Between a Perfectly Competitive Firm and a Monopolist

question 295

Multiple Choice

An important difference between a perfectly competitive firm and a monopolist is

• A) the size of the industry.
• B) the primary objective of the firms.
• C) a monopolist only produces in the long run, while a perfect competitor only produces in the short run.
• D) the price it charges to sell additional units of a good.

---

Definitions:

Quantitative

Pertains to a research method focused on the collection and analysis of numerical data to draw conclusions about a specific phenomenon.

Reliable

The quality of being consistently good in quality or performance; able to be trusted.

Valid

Confirming to the truth or fact; logically sound and recognized as legitimate or acceptable.

Research Question

A question that outlines the problem or issue that a research project aims to address, guiding the research process.