Which of the Following Best Explains an Economic Criticism of Unregulated

question 30

Multiple Choice

Which of the following best explains an economic criticism of unregulated monopolists?

• A) Monopolists do not try to minimize their fixed costs of production.
• B) Monopolists produce where marginal revenue is greater than marginal costs.
• C) Monopolists attempt to produce too many products, and as a result, their prices are high, and consumer's waste time trying to choose between too many options.
• D) Monopolists restrict output, and as a result, they fail to produce units that are valued more than the marginal cost of producing them.

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Definitions:

Consumer Goods

Products that are purchased for personal use or consumption by the general public, such as clothing, food, and electronics.

Farm Products

Commodities produced through agricultural activities, such as crops, livestock, and their by-products.

Fidelity Bond

A form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals, typically employees.

Corporate Funds

Money or financial resources that belong to a corporation and are used for its business operations and activities.