Most economists are against monopolies because
A) monopolists do not maximize profits.
B) monopolies produce too much of a product.
C) monopolies offer consumers more choices than they need.
D) monopolies can never produce the quantity that a perfectly competitive market would produce.
E) monopolies offer less choice to consumers.

Question

Quizplus · Accepted Answer

Monopolies offer less choice to consumers. This is because monopolies have the ability to charge higher prices and limit the quantity of output, which reduces consumer surplus and limits the choices available to consumers. Additionally, monopolies may have less incentive to innovate and improve their products, which can further limit consumer choice. Overall, monopolies can be detrimental to consumer welfare and efficiency in the market.

Most Economists Are Against Monopolies Because