In the case of oligopolists successfully maintaining monopoly profits,what is the effect of the profit-maximizing level of production
A)bad for consumers and bad for the oligopolists
B)bad for consumers and good for the oligopolists
C)good for consumers and bad for the oligopolists
D)good for consumers and good for the oligopolists

Question

Quizplus · Accepted Answer

Oligopolists maintaining monopoly profits means that they have successfully limited competition and are able to charge higher prices, leading to higher profits. This is bad for consumers as they have to pay higher prices for goods and services. However, it is good for oligopolists as they are making more profits. So, the profit-maximizing level of production is good for the oligopolists but bad for consumers.

In the Case of Oligopolists Successfully Maintaining Monopoly Profits,what Is