Monopolies are inefficient because

A) they price discriminate.
B) they maximize profits.
C) they always make above-normal profits.
D) they charge a price above marginal cost.

Answer: D

Economics

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What will be an ideal response?

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As the market wage rate increases, it will exceed more individuals' reservation wage rates; this ensures the market supply of labor curve will be upward sloping

a. True b. False

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