From society's viewpoint, a monopolist produces ________ because price is ________ marginal cost.
A) too little; less than
B) too much; less than
C) too much; greater than
D) too little; greater than

Question

Quizplus · Accepted Answer

A monopolist produces less than the socially optimal quantity because they set a price that is greater than the marginal cost, leading to reduced output compared to a perfectly competitive market.

From Society's Viewpoint, a Monopolist Produces ________ Because Price Is