One Possible Benefit of a Monopoly Is

question 8

Multiple Choice

One possible benefit of a monopoly is:

• A)a more efficient allocation of resources;only one firm is needed to supply quantity demanded.
• B)greater incentives for research due to long-run positive economic profits.
• C)the government is better able to ensure that it follows laws and guidelines because there is only one firm to monitor.
• D)goods and services are provided at a lower price than under perfect competition because of a monopoly's decreasing average cost curve.

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Definitions:

Sports Cars

High-performance automobiles designed with greater emphasis on speed, handling, and aesthetics, often considered symbols of status and style.

Memory

The cognitive function that allows information to be stored, retained, and recalled when needed.

Storing

The process of retaining information over time, an essential aspect of memory that allows individuals to preserve and recall experiences, facts, and knowledge.

Acquiring Information

The process of obtaining knowledge or data from various sources, through reading, observation, or research.