17. Which of the following statements is correct? Monopolies are socially inefficient because they
(i) charge a price above marginal cost.
(ii) produce too little output.
(iii) earn profits at the expense of consumers.
(iv) maximize the market’s total surplus.
(A) (iii) only
(B) (iii) and (iv) only
(C) (i) and (ii) only
(D) (i), (ii), (iii), and (iv)
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