Which statement is false? A. A monopoly sells lower-quality products at higher prices than in a perfect competition. B. Natural monopolies are necessary to avoid wasteful duplication of resources. C. Collusion is legal in the United States, but cartels are not. D. The start-up costs in a monopolistically competitive industry are low. E.
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d is false
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Homogeneous products leave consumers with no choice’ is the false statement.
A homogeneous product is one that cannot be differentiated from other competing products from different suppliers.
The homogeneous product has the same quality and physical characteristics as similar products from other suppliers.
One product can be easily substituted by the other.
A buyer cannot tell the difference between products from two different companies.
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