1. Ariana is CEO of a company that has monopoly status. She has been receiving criticism from many people, who say her firm is not efficient from a public welfare stance and should become efficient in this manner. What would be a valid argument she could use for why she cannot do this?
Group of answer choices
Her company would lose some of its monopoly power.
Her company would make no profit and go out of business.
Her company cannot do this because of government restrictions.
Her company would become too powerful.
2.
According to the estimates of economists, if all monopolies in the United States were made into competitive industries, total output would ______.
Group of answer choices
more than double
decrease significantly
increase very slightly
remain unchanged
3.
Monopolists stop making goods at a point when price is ______ marginal cost.
Group of answer choices
greater than
lower than
equal to
half of
4.
Since monopolists are not subjected to competition, the market outcome of a monopoly ______.
Group of answer choices
is not in the best interests of society
achieves allocative efficiency
meets an urgent need of society
provides more goods than society requires