Given the information in the table above, Foreign's opportunity cost of widgets is

Which of the following statements about monopoly is most accurate?

a. The monopolist has no incentive to produce efficiently. b. Regardless of what is produced, the monopolist will use too many resources. c. A monopolist has no incentive to keep costs down. d. The monopolist "understocks" the market and charges too high a price.

(Consider This) Unintended consequences leading to inefficient outcomes are more likely with government programs than in the private sector because:

A. in the private sector the invisible hand guides resources to their best uses when people strive for efficiency. B. government employees are systematically less competent than those in the private sector. C. government has no real motive in allocating resources efficiently. D. laws restrict government officials from considering effects of a policy outside the main objectives of the policy.