Asked by
Allysa Joyce Roderos
on Dec 19, 2024Verified
A nondiscriminating pure monopolist is generally viewed as
A) productively efficient but allocatively inefficient.
B) productively inefficient but allocatively efficient.
C) both productively and allocatively inefficient.
D) both productively and allocatively efficient.
Nondiscriminating
Nondiscriminating, in economic terms, often refers to pricing or marketing policies that do not vary between different consumers or groups, treating all participants equally.
Pure Monopolist
A market scenario where a single seller controls the entire supply of a product or service, with no close substitutes available to consumers.
Productively Efficient
This refers to a situation where a firm produces goods at the lowest possible cost.
- Understand the economic drawbacks inherent in monopolies, encompassing both allocative and productive inefficiencies.
Verified Answer
BL
Learning Objectives
- Understand the economic drawbacks inherent in monopolies, encompassing both allocative and productive inefficiencies.