Economists object to monopoly because
a. monopoly profits go to the rich.
b. monopolies overproduce to maximize profits.
c. monopolies are usually polluters.
d. monopolists keep output below efficient levels.
d
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An economy's production function is Y = A , and the economy's total output in equilibrium is $90 billion. Total capital income in this economy is ________
A) $27 billion B) $30 billion C) $21 billion D) $70 billion E) none of the above
Which of the following might cause the real value of money to rise in an economy?
a) The government prints $1 million in new bills to finance its spending. b) The average price of food items rise by 20%. c) The price of houses and apartment rentals falls by 30%. d) Other countries in the world demand less of this money.
100 shares of stock in General Motors is considered which type of resource?
A. land B. labor C. capital D. It is not a resource.
If the Federal Reserve wished to engage in contractionary monetary policy, it could
A. increase the primary credit rate. B. increase the reserve ratio. C. sell government debt. D. all of the above.