The economist's objections to monopoly rest on which of the following grounds?
A. There is a transfer of income from consumers to the monopolist
B. There is welfare loss as resources tend to be misallocated under monopoly
C. Both A and B are incorrect
D. Both A and B are correct
Answer:D
The economist's objections to monopoly rest on which of the following grounds?
A. There is a transfer of income from consumers to the monopolist B. There is welfare loss as resources tend to be misallocated under monopoly C. Both A and B are incorrect D. Both A and B are correct