If an Inefficient Public Monopoly Cannot Provide a Service at a Price

question 34

Multiple Choice

If an inefficient public monopoly cannot provide a service at a price that sufficient numbers of people are willing to pay:

• A)it can remain in operation by covering its losses with revenue from taxes.
• B)it must shut down and leave the industry in the long run.
• C)it should expand operations until demand is satisfied.
• D)it will seek out more efficiencies.

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Definitions:

Abandoned

Refers to something or someone left behind or given up on, often implying a lack or loss of support or care.

Dying Patient

Refers to a person in the final stage of life, often receiving palliative care to alleviate symptoms and improve quality of life.

Grieving Person

An individual experiencing intense emotional suffering due to the loss of a loved one or significant life changes.

Accomplish

To achieve or complete successfully.