Which of the following can be said about a monopoly?
A)Monopolies are always inefficient and are therefore the least desirable form of market.
B)They can cause a shift in the demand curve to benefit society.
C)They may aid in innovation.
D)All of these responses are correct.

Question

Quizplus · Accepted Answer

Monopolies can be inefficient, but they can also be efficient if they are regulated. They can cause a shift in the demand curve to benefit society by providing goods and services that would not be available otherwise. They may also aid in innovation by providing the resources and incentives for new products and processes.

Which of the Following Can Be Said About a Monopoly