Which of the following statements is not correct? Answer Consumers will likely b

Question

Which of the following statements is not correct? Answer Consumers will likely benefit in the form of lower prices from buying a product made by a natural monopoly than if the market were served by several firms. Monopolists typically charge higher prices than competitive firms. Monopolists typically produce larger quantities of output than competitive firms. Consumers may benefit from monopolies if the firms invest their higher profits into something that benefits society such as medical research Which of the following statements is not correct? Which of the following statements is not correct? Consumers will likely benefit in the form of lower prices from buying a product made by a natural monopoly than if the market were served by several firms. Monopolists typically charge higher prices than competitive firms. Monopolists typically produce larger quantities of output than competitive firms. Consumers may benefit from monopolies if the firms invest their higher profits into something that benefits society such as medical research Consumers will likely benefit in the form of lower prices from buying a product made by a natural monopoly than if the market were served by several firms. Monopolists typically charge higher prices than competitive firms. Monopolists typically produce larger quantities of output than competitive firms. Consumers may benefit from monopolies if the firms invest their higher profits into something that benefits society such as medical research

Explanation / Answer

Monopolists typically charge higher prices than competitive firms.

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