There is an inherent tendency of a monopoly industry to
A) Lower prices and increase output.
B) Inhibit productivity advances.
C) Increase innovation.
D) Use minimum average cost pricing.

Question

Quizplus · Accepted Answer

Monopoly industries have high barriers to entry and lack competition, which means that they are less likely to be pushed to improve productivity or efficiency. As a result, they may be less motivated to make technological or other innovations.

There Is an Inherent Tendency of a Monopoly Industry to