Question

Which statement is false?

A monopoly sells lower-quality products at higher prices than in a perfect competition.
Natural monopolies are necessary to avoid wasteful duplication of resources.
Collusion is legal in the United States, but cartels are not.
The start-up costs in a monopolistically competitive industry are low.
Homogeneous products leave consumers with no choice.

Answer 1

The correct answer is C. Collusion is legal in the United States, but cartels are not.

Both collusions and cartels are illegal in the United States

Answer 2

the answer is The start-up costs in a monopolistically competitive industry are low.