What is the main social problem caused by monopoly
A)an inefficiently low quantity of output
B)an inefficiently high value of marginal cost
C)excessive monopoly profits
D)excessive producer surplus

Question

Quizplus · Accepted Answer

Monopolies tend to produce an inefficiently low quantity of output because they have the power to set high prices and limit the quantity of goods or services produced in order to maximize their profits. This can lead to a reduction in overall welfare for society as a whole.

What Is the Main Social Problem Caused by Monopoly