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Why have economists traditionally regarded monopoly as an undesirable market structure?

manonvsb

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Why have economists traditionally regarded monopoly as an undesirable market structure?

Why have economists traditionally regarded monopoly as an undesirable market structure?

▸ because of its ability to minimize costs through large output

▸ because of its wasteful innovation

▸ because it is allocatively inefficient

▸ because it is usually characterized by wastefully confrontational labour relations

▸ because it allows producers to earn large profits

Textbook

Microeconomics

Microeconomics

Edition: 17^th

Author: Ragan

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Thanks for your help!!

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