A Statement That Best Reflects an Evaluation of Monopoly Firms

question 180

Multiple Choice

A statement that best reflects an evaluation of monopoly firms is that:

• A) they are economically efficient.
• B) they have little or no market power.
• C) consumers are given more choices, lower costs, and higher quality.
• D) competition should not replace all monopolies.

---

Definitions:

Tariff

A tax imposed by a government on imported goods, often to protect domestic industries from foreign competition.

Imports

Goods and services bought from foreign countries for domestic consumption or use.

Exports

Goods or services produced in one country and sold to buyers in another country.

Budget Surplus

A situation where income or revenues exceed expenditures over a specific period of time, typically a fiscal year.