Author Question: Historical evidence suggests that monopolization of particular industries had led to lower prices. ... (Read 34 times)

khang · **on:** Jun 30, 2018

Historical evidence suggests that monopolization of particular industries had led to lower prices. In such cases the monopolists had reduced profit to increase welfare.
Indicate whether the statement is true or false

Question 2

Economic efficiency is achieved when the price of a unit of a commodity is equal to the marginal cost of producing that unit.
a. True
b. False
Indicate whether the statement is true or false