Because Monopoly Firms Do Not Have to Compete with Other

question 440

Multiple Choice

Because monopoly firms do not have to compete with other firms, the outcome in a market with a monopoly

• A)is often not in the best interest of society.
• B)maximizes total economic well-being.
• C)is efficient.
• D)benefits consumers more so than the producer.

---

Definitions:

Competitiveness

The desire to win or be more successful than others.

Calm Persistence

The approach of steadily and patiently continuing with an action or stance, even in the face of obstacles or opposition, without showing agitation.

Conflict

An instance of opposition or disagreement between ideas, interests, or people.

Impersonal Situation

A scenario or context that lacks personal connection or emotional involvement.