Which of the following is a valid effect of monopoly power?
A)Desirable effects on the distribution of wealth
B)Efficient resource allocation
C)Fostering of innovation
D)Obstacle to efficiency

Question

Quizplus · Accepted Answer

Monopoly power often leads to inefficiencies and higher prices for consumers, as monopolies have no competition to keep prices in check or to encourage innovation and efficient resource allocation.

Which of the Following Is a Valid Effect of Monopoly