8
Next question
Select the correct answer.
Which statement is false?
O A.
A monopoly sells lower-quality products at higher prices than in a perfect competitio
B.
Natural monopolies are necessary to avoid wasteful duplication of resources.
O c.
The start-up costs in a monopolistically competitive industry are low.
O D.
O E.
The start-up costs in a monopolistically competitive industry are low.
Homogeneous products leave consumers with no choice.
Reset
Next

Question

02-06-2024
Business

Answered

8
Next question
Select the correct answer.
Which statement is false?
O A.
A monopoly sells lower-quality products at higher prices than in a perfect competitio
B.
Natural monopolies are necessary to avoid wasteful duplication of resources.
O c.
The start-up costs in a monopolistically competitive industry are low.
O D.
O E.
The start-up costs in a monopolistically competitive industry are low.
Homogeneous products leave consumers with no choice.
Reset
Next

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-02T02:31:58-04:00

Final answer:

Monopolistic competition has low start-up costs and offers differentiated products, while monopolies typically offer homogeneous products with limited consumer choice.

Explanation:

In a monopolistically competitive industry, start-up costs are low compared to natural monopolies. This type of industry features products that are differentiated, offering consumers choices. However, in a monopoly, homogeneous products limit consumer choice as there is only one seller, often leading to higher prices.

Learn more about Monopolistic competition and monopolies here:

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