The Creation of a Monopoly Results in Gains to

question 85

Multiple Choice

The creation of a monopoly results in gains to

• A)producers at no expense to consumers.
• B)consumers at no expense to producers.
• C)producers at the expense of consumers.
• D)consumers at the expense of producers.
• E)producers and consumers at the expense of the government.

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Definitions:

FICA

The Federal Insurance Contributions Act, a United States federal payroll tax that funds Social Security and Medicare.

Paycheck

A document (or electronic transfer) issued by an employer to pay an employee for services rendered.

Tax Burden

The measure of the total amount of taxes paid by an individual, a business, or another entity to the government.

Tax Burden

Refers to the total amount of tax that individuals or businesses must pay, relative to their income or profit.