64 757
Assignments Done
99,3%
Successfully Done
In September 2018

Answer to Question #52948 in Microeconomics for Yana

Question #52948
mutiple choice
1. Which of the following best explains an economic criticism of unregulated monopolists?
a. Monopolists do not try to minimize their costs of production.
b. Monopolists produce where marginal revenue is greater than marginal costs.
c. Monopolists attempt to produce too many products, and as a result, their prices are high,
and consumer's waste time trying to choose between too many options.
d. Monopolists restrict output, and as a result, they fail to produce units that are valued more
than the marginal cost of producing them.
Expert's answer
d. Monopolists restrict output, and as a result, they fail to produce units that are valued more than the marginal cost of producing them.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions