Because of monopoly, consumers typically have:
A) fewer choices.
B) higher costs.
C) lower quality.
D) all of the above.

Question

Quizplus · Accepted Answer

Monopoly power allows the provider to limit the number of choices and increase prices. Lower competition may also mean lower incentives for high-quality goods or services. Therefore, consumers typically face fewer choices, higher costs, and lower quality due to monopoly.

Because of Monopoly, Consumers Typically Have