"Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in costs to their consumers." This statement is
A) false; price increases will mean fewer sales, and lower costs will mean higher profits (or smaller losses) .
B) true; this is the primary reason why economists believe that monopolies result in economic inefficiency.
C) false; the monopolist is a price taker.
D) true; consumers in a monopoly market have no substitutes to turn to when the monopolist raises prices.
Correct Answer:
Verified
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