Under a Monopoly, Resources Are Misallocated Such That

question 246

Multiple Choice

Under a monopoly, resources are misallocated such that

• A) too few resources are used in other industries, and too many are used by the monopoly.
• B) too few resources are used by the monopoly, and too many are used elsewhere.
• C) resources are being used as efficiently as possible only by the monopoly.
• D) consumers are being forced to pay a price below the MC of the monopolist.

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Definitions:

S.S. Oxford

Depending on context, could refer to a specific ship or vessel named Oxford; without additional context, a specific definition cannot be provided.

Personally Liable

Holding personal responsibility to settle a debt or legal judgment, affecting one's own assets and finances.

Reverts

Returns to a previous state or condition, often after a temporary change.

Real Property

Land and anything permanently attached to it.