After a drug has been invented, monopoly (when compared to perfect competition) creates
A. lower profits to firms.
B. more production.
C. more production and higher prices to consumers.
D. higher prices to consumers.
Answer: D
Economics
You might also like to view...
In 1961, real GDP totaled $575 billion and in 2011 it totaled $1,255 billion. Between 1961 and 2011, the population increased from 50 million to 100 million. Between 1961 and 2011, the standard of living based on real GDP per person
A) decreased from $125,500 to $28,750. B) increased by about 118 percent. C) increased from $11,500 to $12,550. D) decreased by 9 percent. E) increased by over 300 percent.
Economics
Employing the data from Figure 2-2, income Y is equal to
A) $3,000,000. B) $3,300,000. C) $3,600,000. D) $5,100,000.
Economics