Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in costs to their consumers." This statement is
a. false; price increases will mean fewer sales, which may lower profits.
b. true; this is the primary reason why economists believe that monopolies result in economic inefficiency.
c. false; the monopolist is a price taker.
d. true; consumers in a monopoly market have no substitutes to turn to when the monopolist raises prices
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Home » Business » Monopolists do not worry about efficient production and minimizing costs since they can just pass along any increase in costs to their consumers." This statement is a. false; price increases will mean fewer sales, which may lower profits. b.