Economists are critical of monopoly because
A) monopolists can earn long-run economic profit.
B) monopolists can create a deadweight loss.
C) the demand for the monopolist's product is the market demand curve.
D) economies of scope result in lower average costs.
B
You might also like to view...
According to the text, all of the following are EU member states EXCEPT:
a. Poland b. Ukraine c. France d. Germany e. Greece
Ball's research on disinflation across different countries found that
A) costs of disinflation were smaller for rapid disinflation than for gradual disinflation. B) costs of disinflation were larger for rapid disinflation than for gradual disinflation. C) costs of disinflation were about the same for both rapid and gradual disinflation. D) costs of disinflation were smaller when the central bank had a strong inflation-fighting reputation.
Which of the following is NOT generally recognized as a channel for monetary policy?
A) interest rate channel B) balance sheet channel C) financial market channel D) bank lending channel
If the economy in the graph shown is currently at point B, and the government increases its spending, the likely outcome will be that the:
A. economy will increase its level of output.
B. economy will experience deflation.
C. economy's unemployment rate will increase.
D. All of these are likely to be true.