The reason economists consider monopoly to be socially undesirable is that monopolists:
A. can charge any price they want.
B. produce less than the socially optimal level of output.
C. earn too much economic profit.
D. exploit the inelastic nature of demand.
Answer: B
Economics
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Structural unemployment exists because workers and employers try to find the right employment matches
Indicate whether the statement is true or false
Economics
Refer to the above figure. A price floor of $60 results in
A) a shortage of 100 units. B) a shortage of 200 units. C) a surplus of 100 units. D) a surplus of 200 units.
Economics