Which of the Following Qualify as a Social Cost of Monopoly

question 162

Multiple Choice

Which of the following qualify as a social cost of monopoly power?
(i) loss of consumer surplus
(ii) loss of producer surplus
(iii) excessive profit earned by the owner of a monopoly

• A)(i) and (ii)
• B)(ii) and (iii)
• C)(i) and (iii)
• D)(i), (ii) and (iii)

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Definitions:

Genetically Programmed

Characteristics or behaviors encoded in an organism's DNA, predetermined by genetic inheritance.

Nonstochastic

Relates to a process or model that is deterministic, meaning it is not random and outcomes can be predicted with certainty.

Aging Population

Refers to the increasing median age in the population of a region due to declining fertility rates and/or rising life expectancy.

Lifespan

The length of time a person lives, from birth to death, including various factors that influence longevity.