Because Monopoly Firms Do Not Have to Compete with Other

question 213

Multiple Choice

Because monopoly firms do not have to compete with other firms, the outcome in a market with a monopoly is often

• A)not in the best interest of society.
• B)one that fails to maximize total economic well-being.
• C)inefficient.
• D)All of the above are correct.

---

Definitions:

Facets

More specific components of the Big Five; subcategories of Big Five traits.

High in Extraversion

Describes individuals who exhibit significantly above-average levels of sociability, enthusiasm, and activity compared to others.

Study Habits

The consistent practices or routines that individuals use to acquire and retain information effectively during the learning process.

Conscientiousness Dimension

One of the five major personality traits, describing individuals who are reliable, well-organized, self-disciplined, careful, and responsible.