Which of the Following Statements Is Correct? Monopolies Are Socially

question 18

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)

---

Definitions:

Alienation

The feeling of being isolated or estranged from others or oneself, often associated with a loss of connection or dissatisfaction.

Eigenwelt

In Binswanger’s phenomenological analysis, the experience of experience itself; the result of introspection.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Mitwelt

In Binswanger’s phenomenological analysis, social experience such as feelings and thoughts about others and oneself in relation to them.