Profit-maximizing monopolies are inefficient because Select one: O a. they practice price discrimination. O b. without competition they have no incentive to minimize costs. Oc they make above normal profits. O d. their prices are more than their marginal costs.
Profit-maximizing monopolies are inefficient because Select one: O a. they practice price discrimination. O b. without competition they have no incentive to minimize costs. Oc they make above normal profits. O d. their prices are more than their marginal costs.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Profit-maximizing monopolies are inefficient because
Select one:
O a. they practice price discrimination.
O b. without competition they have no incentive to minimize costs.
Oc they make above normal profits.
O d. their prices are more than their marginal costs.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c3b51d1-c52f-4b16-8d4d-69f25ea52af6%2F8afe7227-4e1e-4c48-9257-a1aefa0262e4%2Fwa7w46ac_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Profit-maximizing monopolies are inefficient because
Select one:
O a. they practice price discrimination.
O b. without competition they have no incentive to minimize costs.
Oc they make above normal profits.
O d. their prices are more than their marginal costs.
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