When comparing perfect competition and monopoly, a major assumption made is that
A) the monopolist faces a downward sloping demand curve.
B) consumers only care about the price of the good and not whether the seller is a monopoly or not.
C) the costs of production are the same under monopoly as under perfect competition.
D) the monopolist can make an above normal rate of return.
C
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Which of the following is NOT a factor that has contributed to declining private-sector differential between union and nonunion wages in the U.S. since 1980?
A) Globalization of the production process B) Improved ability of firms to substitute capital for labor in production C) Adoption of two-tiered wage and benefit structures by unionized firms D) Declines in the unemployment and health insurance premiums paid by union workers
A . Explain why government payments to farmers are larger under a target price system than under the parity price system. b. Explain how the government can qualify a target price program to moderate the size of its deficiency payments