Which of the following is an argument in support of monopolies?
A) They increase output and raise prices,contributing to greater consumption of scarce resources.
B) They are protected from competition so they have greater ability to pursue research and development.
C) They contribute to efficient production when there are diseconomies of scale.
D) They provide the economic profit necessary for survival and efficient production in a market.

Question

Quizplus · Accepted Answer

Monopolies, being protected from competition, can invest more in research and development, leading to technological advancements and innovation that may not have occurred in a more competitive market.

Which of the Following Is an Argument in Support of Monopolies