Inefficient output and price,few choices,and rent seeking are all problems associated with:
A) economies of scale.
B) competitive markets.
C) monopolies.
D) scarcity.
E) trade.

Question

Quizplus · Accepted Answer

These problems are associated with monopolies, where there is only one seller controlling the market and able to charge higher prices and produce lower quality products due to lack of competition.

Inefficient Output and Price,few Choices,and Rent Seeking Are All Problems