A monopoly misallocates resources when it – Q/A (Question and Answer)
Question
A monopoly misallocates resources when it – Q/A (Question and Answer)
Test Answer
A. restricts output so that the marginal benefit of the last unit sold exceeds the marginal social cost of producing the good. B. exploits scale economies. C. sells the same product to different groups of customers at different prices. D. makes an above-normal profit.
Answer:
A. restricts output so that the marginal benefit of the last unit sold exceeds the marginal social cost of producing the good.
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