Exam Question
The social costs of monopoly power arises because…
- 1. marginal cost is set equal to marginal revenue
- 2. price is less than marginal cost
- 3. marginal consumer benefit is less than marginal revenue
- 4. there is too little output at too high a cost
View Answer
Answer 4. there is too little output at too high a cost
Practice set and Exam Quiz
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