How does a monopoly market limit economic utility?
Please provide the best answer for the statement.
Answer: A monopoly market does not encourage the monopolist to minimize resources consumed when producing goods. There is little incentive to reduce costs because the profit more than covers all the monopolist’s cost. Similarly, there is little incentive to find better, less costly ways of producing a product. Because monopolies have higher profits, there is little incentive to develop new technology that might increase its competitive edge over other firms, as there are no other competing firms.
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Direct realism claims that the immediate objects of perception are
a. the eternal forms. b. sense impressions. c. independent physical objects. d. our own psychological states.
INSTRUCTIONS: Select the conclusion that follows in a single step from the given premises. Throughout this test, write your answer on the form provided. Erasure marks may cause the grading machine to mark your answer wrong. Given the following premises: 1 . ?R ? ?R 2 . R ? (?J • ?H) 3 . ?R ? (H • B)
A) ?J • ?H 1, 2, DS B) R 1, DN C) R ? ?(J ? H) 2, DM D) (R ? ?J) • ?H 2, Assoc E) H • B 1, 3, MP
Inductive reasoning deals most centrally with _______
A. statistics B. probability C. truth D. consequence
The Western view has tended to adopt an adversarial relation to nature
Indicate whether the statement is true or false