Which of the Following Statements Is False

question 130

Multiple Choice

Which of the following statements is false?

• A)A competitive firm maximizes profit when marginal revenue equals marginal cost.
• B)When a competitive firm increases output by one unit, revenue increases by an amount equal to market price.
• C)A monopoly and a competitive firm use a similar rule for setting output to maximize profit.
• D)When a monopoly increases output by one unit, revenue increases by an amount less than market price.
• E)A monopoly maximizes profit when price equals marginal cost.

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Definitions:

Neural Impulses

Electrical signals that travel along neurons, conveying information throughout the nervous system.

Axon

A thin, elongated extension of a neuron that usually transmits electrical signals from the neuron's cell body outward.

Dendrite

The branched projections of a neuron that act to conduct the electrochemical stimulation received from other neural cells to the body, or soma, of the neuron from which the dendrites project.

Myelin Sheath

An insulating layer around nerves, made of protein and fatty substances, which helps increase the speed at which electrical impulses propagate.