Economists object to monopoly because

a. monopoly profits go to the rich.
b. monopolies overproduce to maximize profits.
c. monopolies are usually polluters.
d. monopolists keep output below efficient levels.

d

Economics

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A good for which demand decreases when income increases is known as a(n) ________ good

A) normal B) inferior C) substitute D) complementary

Economics

The result of the large tax cuts in the first Reagan Administration demonstrated very convincingly that Arthur Laffer was correct when he asserted that cuts in tax rates would increase tax revenue

a. True b. False Indicate whether the statement is true or false

Economics