Which statement is true?
A)Monopolies tend to be inefficient.
B)Most industries in the United States are monopolies.
C)All electric power companies are natural monopolies that do not have any type of competition.
D)Although big business has great economic power,that power is rarely translated into political power.

Question

Quizplus · Accepted Answer

Monopolies tend to be inefficient because they have no competition, which can lead to a lack of incentive to improve products or lower prices. This can result in lower quality products, higher prices for consumers, and an overall reduction in economic efficiency.

Which Statement Is True