Economists Object to Monopoly Because

question 82

Multiple Choice

Economists object to monopoly because

• A)monopoly profits go to the rich.
• B)monopolies overproduce to maximize profits.
• C)monopolies are usually polluters.
• D)monopolists keep output below efficient levels.

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Definitions:

Job-Order Costing

A cost accounting system that accumulates costs per individual job or project to determine its profitability or cost-effectiveness.

Predetermined Overhead Rate

An estimated rate used to allocate overhead costs to products or services, based on a chosen activity base.

Automated Shaper

A machine tool controlled by computers, designed for shaping materials such as metals or wood.

Unused Capacity

The portion of a company's production capability that is not currently being utilized for production.