Which of the following statements concerning monopoly is NOT true?
A. A monopoly is always undesirable.
B. A monopoly has market power.
C. A market may be monopolistic because there are some legal barriers.
D. There is some deadweight loss in a monopolistic market.
Answer: A
You might also like to view...
Suppose that the due to technological innovations, the absolute price of a recordable CD declines by 25% while the absolute price of a recordable cassette tape declines by 10%. In this situation, the price of the CD relative to the price of a tape
a. falls. b. rises. c. remains the same. d. changes unpredictably.
If a supplier faces a perfectly horizontal demand curve and sets his price slightly higher than the demand curve itself, he can expect:
a. no change in his total revenues. b. everyone to begin buying his product. c. a complete loss of revenues. d. a new demand curve. e. a relative increase in income.
A high unemployment rate most likely means that there is a:
a. Large GDP gap in the economy b. High rate of inflation in the economy c. Low rate of interest in the economy d. Small GDP gap in the economy
In the United States, the average length of time people spend unemployed is
A) approximately one month. B) between two and three months. C) between ten and eleven months. D) greater than twelve months.