Monopolies are inefficient because

A) they price discriminate.
B) they want to maximize profits.
C) they always make above-normal profits.
D) price exceeds marginal cost.


D

Economics

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Technological advances that allow a good to be produced at a lower cost will shift the demand curve rightward.

Answer the following statement true (T) or false (F)

Economics

The local barber in a small town has decided to raise the price of his haircuts by 25% because he realizes he is the only barber in town and of course "everyone has to get a haircut"

His rational is that the demand for his services is price inelastic? What mistake is he making?

Economics

A determinant of the supply of loanable funds is:

A. current economic conditions. B. expected profit on an investment. C. investors’ confidence. D. All of these are determinants of the supply of loanable funds.

Economics

The high-income economies of the world have learned there is no long-run gain to letting _______ become established.

a. entrepreneurship b. unemployment c. inflation d. censorship

Economics