Monopolization of either the labor market or the output market results in
A) higher wages than when both are competitive.
B) a higher output price than when both are competitive.
C) a higher level of output than when both are competitive.
D) All of the above.

Question

Quizplus · Accepted Answer

Monopolization of the output market results in a higher output price than when both are competitive. Monopolization of the labor market does not necessarily lead to higher wages. The choice of "All of the above" is not correct, as C is not true.

Monopolization of Either the Labor Market or the Output Market