Here are four statements, each of which may be true or false. IThe output of...
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Economics
Here are four statements, each of which may be true or false. IThe output of a monopoly is always less than that which wouldprevail if the industry were organized competitively. II Ifeconomies of scale were possible, the output of a monopoly mightsometimes be greater than that which would prevail if the industrywere organized competitively. III If perfect price discriminationwere possible, the output of a monopoly might sometimes be greaterthan that which would prevail if the industry were organizedcompetitively. IV The output of a monopoly is always greater thanthat which would prevail if the industry were organizedcompetitively. Choose the correct option from the list below. OnlyI is true. Only II Is true. Only III is true. II and III are true,but I and IV are false. Only IV is true.
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