In a Purely Monopolized Environment Where Each Monopolist Succeeds at Raising

question 83

Multiple Choice

In a purely monopolized environment where each monopolist succeeds at raising its price, the result is:

• A) demand is lower for all goods and profits fall.
• B) higher prices spread throughout the economy.
• C) higher prices lead to increased competition.
• D) wages increase as well, leading to higher real incomes across the population.

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