One Possible Benefit of a Monopoly Is

question 7

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 opportunities 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:

Judge

An official appointed to preside over court proceedings, either alone or as a part of a panel, and make decisions or judgments.

Balance Of Probabilities

The burden of proof in civil matters; the person making the claim must provide evidence to convince the court that there is a greater than 50 percent likelihood that the event took place as claimed.

Civil Matter

A legal dispute between private parties (individuals or corporations), which usually involves issues such as contracts, property, and family law, as opposed to criminal law.

Jury

A group of citizens sworn to give a verdict in a legal case on the basis of evidence presented to them in court.