Monopolies Are Socially Inefficient Because the Price They Charge Is

question 103

Multiple Choice

Monopolies are socially inefficient because the price they charge is

• A)equal to marginal revenue.
• B)above marginal cost.
• C)equal to demand.
• D)above demand.

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Definitions:

Negligent

Failing to take proper care in doing something, resulting in damage or harm to another person.

Certified Check

A check verified by a bank, confirming that the signer has enough funds in their account to cover the check amount.

Cashier's Check

A check issued by a bank, drawn on the bank's own funds and signed by a cashier, used for guaranteed payment.

Digital Cash

Money stored electronically in place of physical currency.