Which of the Following Statements Is FALSE

question 163

Multiple Choice

Which of the following statements is FALSE?

• A) A perfectly competitive market produces more output and charges a lower price than a monopoly.
• B) A perfectly competitive firm produces where MR = MC but a monopoly produces where MR > MC.
• C) In a perfectly competitive market, the price is equal to the marginal cost, but in a market with a single-price monopoly, price exceeds marginal cost.
• D) The consumer surplus is smaller for a market with a monopoly than for a perfectly competitive market.
• E) In the long run, a monopoly can earn a larger economic profit than can a perfectly competitive firm.

---

Definitions:

Cross-Functional Team

A group composed of members from different departments or areas of expertise working together towards a common goal.

Hierarchical Organization

An organizational structure where entities are ranked according to levels of authority or status.

Tensions

involves a state of mental or emotional strain typically resulting from challenging or demanding circumstances.

Team Performance

The effectiveness and efficiency with which a group accomplishes its collective goals, measured by various metrics.