Monopolies ________ Fair and ________ Efficient

question 304

Multiple Choice

Monopolies ________ fair and ________ efficient.

• A) are always; are not
• B) might be; are always
• C) might be; might be
• D) are always; are always
• E) are never; are always

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Definitions:

Compensating Differential

The additional amount of income that a worker requires to be indifferent between working in a job with undesirable conditions and a job with desirable conditions.

Compensating Differential

The difference in wages that arises between jobs with differing levels of risk, convenience, or other non-monetary characteristics, compensating for the less desirable aspects of certain jobs.

Law School

An institution specializing in legal education to prepare students for careers in law.

Attractiveness

A characteristic or set of characteristics that pleases the aesthetic senses, especially the sight, or increases interest or desire in something or someone.