Economists criticize monopolies because monopolies
A) always price discriminate.
B) receive accounting profits.
C) restrict output and raise prices compared to a competitive situation.
D) make consumers pay more for their product than the customers value the product.
C
Economics
You might also like to view...
Along any downward sloping straight-line demand curve:
A) both the price elasticity and slope vary. B) the price elasticity varies, but the slope is constant. C) the slope varies, but the price elasticity is constant. D) both the price elasticity and slope are constant.
Economics
A government-imposed price ceiling set below the market's equilibrium price for a good will produce an excess supply of the good
a. True b. False
Economics