Many Economists Criticize Monopolists Because They

question 276

Multiple Choice

Many economists criticize monopolists because they

• A) charge a price that equals marginal cost rather than a price that equals average cost.
• B) don't innovate.
• C) produce a large quantity of waste.
• D) produce less than the socially efficient level of output.

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Definitions:

Achievement Drive

A personal motivation to set and accomplish challenging goals, regardless of obstacles or difficulties.

Tenacity

The quality of being determined and persistent in achieving goals, despite facing difficulties or setbacks.

New Program

Initiative or set of organized activities introduced to meet certain objectives or address specific needs.

Era of Downsizing

A period characterized by a significant reduction in the workforce of organizations to cut costs and improve efficiency.