There is a general consensus in the economics profession that the losses associated with monopolies are minimal, and, therefore, can be ignored.

Question

Quizplus · Accepted Answer

There is actually significant debate within the economics profession regarding the costs of monopolies. While some argue that monopolies can lead to efficiencies and innovation, others argue that they limit competition and result in higher prices and reduced output, which can harm consumers and the economy overall. Therefore, the losses associated with monopolies cannot be ignored.

There Is a General Consensus in the Economics Profession That