Question

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

the cartoon?
a. "Materialism increases the quantity demanded." b. "Consumer demand is elastic."
C. "Monopolies negatively affect consumers." d. *Supply is related to demand."​

Answer 1

The correct statement lies in option C.

Monopolies negatively affect consumers.

Step-by-step 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.