In monopoly:
A.a basic condition for efficiency is violated because P MC.
B.consumers are confronted with a price that is lower than marginal cost.
C.consumers will consume more of the good than is economically efficient.
D.consumers are confronted with a price that is lower than average total cost.

Question

In monopoly:
A.a basic condition for efficiency is violated because P > MC.
B.consumers are confronted with a price that is lower than marginal cost.
C.consumers will consume more of the good than is economically efficient.
D.consumers are confronted with a price that is lower than average total cost.

Quizplus · Accepted Answer

The Answer of In monopoly:
A.a basic condition for efficiency is violated because P > MC.
B.consumers are confronted with a price that is lower than marginal cost.
C.consumers will consume more of the good than is economically efficient.
D.consumers are confronted with a price that is lower than average total cost.

In Monopoly: A.a Basic Condition for Efficiency Is Violated Because P >