Which of the Following Can Be Said About a Monopoly

question 154

Multiple Choice

Which of the following can be said about a monopoly?

• A)Monopolies are always inefficient and are therefore the least desirable form of market.
• B)They can cause a shift in the demand curve to benefit society.
• C)They may aid in innovation.
• D)All of the above are correct.

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Definitions:

Binding

Describes an agreement, contract, or decision that is legally enforceable, requiring parties involved to adhere to the terms set forth.

Competition Act

Legislation aimed at preventing anti-competitive practices in the marketplace, ensuring fair competition, and protecting consumers from unfair business practices.

Criminal Law

The body of law dealing with crimes and their punishment, involving acts that are harmful or potentially harmful to public welfare.

Public Interest

A common concern among citizens in the management and affairs of local, state, and national government that warrants recognition and protection.