Exhibit 10-8 -Which of the Following Statements Is Always Correct

question 151

Multiple Choice

Exhibit 10-8
-Which of the following statements is always correct?

• A)Inefficiency is likely to occur under competition but is unlikely to occur in the monopoly market structure.
• B)A competitive firm is more able to engage in research and development than is a monopoly.
• C)Monopolies transfer some of the potential consumer surplus from buyers to sellers.
• D)Monopolies transfer some of the potential producer surplus from sellers to buyers.
• E)Monopolies transfer all of the potential consumer surplus from buyers and sellers to the government.

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Definitions:

Skills Gap

The difference between the skills required for a job and the actual skills possessed by employees.

Labour Market Supply

The total available workforce or pool of workers in a particular market or region, willing to work under existing conditions.

External Human Resource Supply

Refers to the availability of potential job candidates outside the organization, which HR uses to fill current or future job openings.

Hard Cost

Direct, tangible expenses associated with a project or investment, such as materials and labor costs.