An Important Benefit of Private Ownership of a Monopoly Is

question 24

Multiple Choice

An important benefit of private ownership of a monopoly is that a private monopoly has more incentive to:

• A)bargain for much lower wages for its workers
• B)charge a price that is consistent with that of a benevolent social planner
• C)lower its costs so that it can earn more profit
• D)price its good according to the intersection of marginal cost and average revenue

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Definitions:

Metabolic Activity

Processes within living organisms that involve biochemical reactions, such as digestion, respiration, and energy production.

Endocrine

Pertaining to glands that secrete hormones directly into the blood, regulating various bodily functions such as growth, metabolism, and reproduction.

Nervous

Relating to the nerves or the nervous system, responsible for transmitting messages throughout the body.

Digestion

The biological process by which food is broken down into smaller components, so the body can absorb and utilize nutrients.