A Feature of Monopoly That Leads to Unfavorable Consequences Is

question 46

Multiple Choice

A feature of monopoly that leads to unfavorable consequences is that it:

• A) reduces income inequality.
• B) sets marginal cost equal to price.
• C) produces less output than if perfectly competitive firms characterized the same industry.
• D) charges a lower price than if perfectly competitive firms characterized the same industry.

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Definitions:

Divorced

The legal dissolution of a marriage by a court or other competent body, restoring the parties to the state of being single.

Filial Responsibility

A legal or social expectation that children are obligated to take care of their aging parents.

Asia

The Earth's largest and most populous continent, located primarily in the Eastern and Northern Hemispheres, known for its diverse cultures, languages, and histories.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, known for its rich history, cultural diversity, and economic influence.