When Consumers Have No Choice but to Buy from One

question 24

Multiple Choice

When consumers have no choice but to buy from one firm

• A) they usually end up paying too much for the good or service.
• B) government regulation is usually used to protect consumers.
• C) they will always get the good or service at the lowest price available.
• D) None of these occur.

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Definitions:

Bottom Half

This term usually refers to the lower 50% of income earners in a given population.

Earners

Individuals or entities that receive income through work, investments, or any other source of revenue.

Top 1 Percent

The segment of the population that earns the highest income, often used in discussions of income inequality.