Which of the following statements about a monopolist is FALSE?
A) A pure monopolist is the sole supplier of one product, good, or service.
B) The monopolist faces a demand curve for the entire market for that good.
C) A pure monopolist is not the same as a perfect competitor.
D) The monopolist faces the industry demand curve, which is upward sloping.
D
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The Shipbreakers of Alang represent a perfect example of how a developing country can apply the principles of the Heckscher-Ohlin model, since
A) shipbreaking is generally considered to be a capital-intensive operation and India, being a large country has much capital. B) shipbreaking is a labor-intensive operation in India, and India has many workers since it is such a large country. C) shipbreaking is a labor-intensive operation in India, and India's availability of capital per worker is less than that of its trade partners. D) shipbreaking is a capital-intensive operation elsewhere in the world, and therefore represents a case of a factor intensity reversal. E) India's climate lends itself to the work involved in shipbreaking.
Scarcity arises because of
a. international trade disputes b. our unwillingness to share earth's bounty c. insatiable wants d. limited natural resources e. primitive technology