Which of the Following Statements About a Monopolist Is TRUE

question 207

Multiple Choice

Which of the following statements about a monopolist is TRUE?

• A) Monopolies tend to misallocate resources.
• B) All monopolies are unlawful in the United States.
• C) Monopolies tend to supply goods at lower prices than those charged by firms in perfect competition.
• D) Monopolies will always make a profit in the long run.

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Definitions:

Increasing Chances

Efforts made to enhance the likelihood of achieving a desired outcome or success.

Capabilities

The skills, resources, and abilities that an organization or individual possesses.

Demands

Requests or calls for something to be supplied or performed, often with a sense of urgency or necessity.

Brief View

A concise and succinct overview or summary of a particular subject or topic.