Which one of the following statements is correct?
A)Monopolistic conditions are helpful to the consumer
B)Monopolists tend to be price takers
C)A monopolist is able to raise prices to a high level
D)Monopolies are generally regarded favourably by competition regulators

Question

Quizplus · Accepted Answer

A monopolist has complete control over the supply of a good or service, allowing them to set the price at a high level. This is because there are no close substitutes available for consumers to turn to. Therefore, statement C is correct, while statements A, B, and D are incorrect. Monopolies are generally regarded negatively by competition regulators because they reduce competition and can lead to higher prices and reduced choice for consumers.

Which One of the Following Statements Is Correct