Monopolies reduce consumer surplus and create a deadweight loss This segment talks about several other dynamic costs of monopoly industries Pick two and discuss why monopolies (versus competitive industries) could potentially create these costs a Monopolies could reduce future innovation in an indu...

b Monopolies could cause wage stagnation and economic inequality In a competitive market firms are forced to compete not only in terms of product quality and price but also in terms of attracting and ...

Monopolies reduce consumer surplus and create a deadweight loss. This segment talks about several other dynamic costs

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Question:

Monopolies reduce consumer surplus and create a deadweight loss. This segment talks about several other dynamic costs of monopoly industries. Pick two and discuss why monopolies (versus competitive industries) could potentially create these costs.

a.Monopolies could reduce future innovation in an industry.

b.Monopolies could cause wage stagnation and economic inequality.

c.Monopolies could have too much political influence.
d.Monopolies could be used as an instrument of authoritarian governments.