One problem associated with a monopoly firm is that it
A) produces too little output but also charges a low price.
B) produces too much output and charges too low a price.
C) restricts output and charges a relatively higher price than a purely competitive firm.
D) is just as good as a purely competitive firm in terms of output and price.
C
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Which of the following occurs during an expansion?
a. Output rises, employment rises and unemployment falls. b. Output falls, employment rises and unemployment falls. c. Output rises, employment falls and unemployment falls. d. Output rises, employment rises and unemployment rises. e. Output rises, employment rises and tax revenues fall.
The term "marginal analysis" refers to comparing the benefits and costs of choosing a little more or a little less of a good
a. True b. False Indicate whether the statement is true or false