Which of the Following Statements Is Correct? Monopolies Are Socially

question 36

Multiple Choice

Which of the following statements is correct? Monopolies are socially inefficient because they (i) charge a price above marginal cost.
(ii) produce too little output.
(iii) earn profits at the expense of consumers.
(iv)
Maximize the market's total surplus.

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

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Sense of Purpose

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