Question

This cartoon can be read and enjoyed on several levels. Which statement best captures the economic message of

Answer 1

Answer:

The correct statement lies in option C.

Monopolies negatively affect consumers.

Explanation:

• The statement that best captures the economic message of the cartoon is that monopolies negatively affect consumers.

• When a specific enterprise or person is the only supplier in the market, it is called monopoly.

• Monopoly can result to higher prices of the good, also known as price taker as there is no other enterprise which can supply the same good.

• Here, Santa Claus is the monopoly as he is the only supplier of gifts in Christmas so he gets sloppy and result in low output in his work.