Based on the text, it should be obvious that markets are ____ in reality, and consequently, monopolistic advantages ____ be exploited.
A) perfect; may possibly
B) perfect; cannot
C) imperfect; may possibly
D) imperfect; cannot

Question

Quizplus · Accepted Answer

The text mentions "imperfect competition" which suggests that markets are imperfect and not perfect. It also states that monopolistic advantages "can possibly be exploited," indicating that they might not always be successful but can be attempted. Therefore, the correct answer is C, imperfect; may possibly.

Based on the Text, It Should Be Obvious That Markets