Business, 18.12.2019 06:31 davidsouth444

Which of the following statements is a major criticism of a pure monopoly as a source of allocative inefficiency? rev: 05_15_2018 multiple choice

a. a pure monopoly fails to expand output to the level where the price of an additional unit is just equal to its marginal cost.
b. a pure monopoly has no incentive to produce efficiently, because even the inefficient pure monopoly can be assured of economic profits.
c. a pure monopoly will always generate economic profit, and that means that prices are too high.
d. a pure monopoly has an unfair advantage because it can purchase labor at a lower price than perfectly competitive firms can.

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Which of the following statements is a major criticism of a pure monopoly as a source of allocative...

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