Monopolies Misallocate Resources Because

question 61

Multiple Choice

Monopolies misallocate resources because:

• A) a monopoly means less output at lower price.
• B) price is equal to the marginal cost.
• C) the marginal benefit of the last unit produced is equal to the marginal cost of the last unit.
• D) perfect competition means more output for less price.

---

Definitions:

Longitudinal Research

A study design that involves repeated observations of the same variables or groups over a period of time, often years or decades.

Romantic Qualities

Characteristics or attributes that are traditionally associated with romance, such as affection, compassion, and emotional intimacy.

Survey

A research method in which information is collected from a large number of people by interviews, written questionnaires, or some other means.

Scientific Method

A systematic and logical approach to discovering how things in the universe work, involving making observations, forming a hypothesis, conducting experiments, and making conclusions.