A Benefit of a Monopoly Is

question 79

Multiple Choice

A benefit of a monopoly is

• A)efficient production.
• B)decreasing long-run marginal costs.
• C)profit that can be invested in research and development.
• D)All of the above are correct.

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Definitions:

Product Costs

The total costs incurred to manufacture a product or provide a service, including direct materials, labor, and overhead expenses.

Inventories

Items of merchandise, raw materials, work-in-progress, and finished goods that a company holds for the purpose of sale in the ordinary course of business.

Raw Materials

The basic materials from which products are manufactured or made, typically unprocessed or minimally processed states.

Work In Process

Goods partially completed in manufacturing but not yet ready for sale, representing a component of a company’s inventory.