A monopoly causes a market failure when consumers cannot buy the item at a price they...
A monopoly causes a market failure when
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consumers cannot buy the item at a price they think is fair |
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all consumers cannot have as much as they want |
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consumers cannot buy the item and they think it is a right for them to have it |
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consumers cannot buy the item, even though they will pay more than the marginal cost of the item |
Homework Answers
Answer :- all consumers cannot have as much as they want
Explanation :-
=> as we know that under monopoly there is only one seller and too much buyers. so market price is decided by seller.
=> Monopoly fails when the producers or sellers think that consumers should pay any amount which they set. but all consumers not have enough amount to purchase that. so market should failed.
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