Inefficient output and price,few choices for consumers,and rent seeking are all problems associated with
A) externalities.
B) competitive markets.
C) monopolies.
D) scarcity.
E) trade.

Question

Quizplus · Accepted Answer

Inefficient output and price, few choices for consumers, and rent-seeking are all problems associated with monopolies. Externalities can be a problem in both monopolies and competitive markets, but competitive markets generally provide more choices for consumers and a more efficient allocation of resources. Scarcity is a fundamental economic concept and is not directly related to these particular issues. Trade can have its own set of issues, but the problems described in the question are more closely related to monopolies.

Inefficient Output and Price,few Choices for Consumers,and Rent Seeking Are