A simple way of describing the social cost of monopoly is to say that it
A) produces too much.
B) makes too much money.
C) has too much political power.
D) restricts output and charges a higher price than a perfectly competitive firm.
Answer: D
Economics
You might also like to view...
Among the components of a 45-degree (or income) line are consumption and
a. investment b. inventories c. exports d. saving e. imports
Economics
Contagion is:
A. the rapid contraction of investment spending that occurs when interest rates are increased by the Federal Reserve. B. the rapid inflation that results from the printing of money. C. the failure of one bank spreading to other banks through depositors withdrawing of funds. D. the phenomenon that if one bank loan defaults it will cause other bank loans to default.
Economics