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IUNTICWUIK. N55IGITICUL IUI IVIUuue o Score: 0 of 1 pt 5 of 1 12.3 Review Quiz 1 (static) Why does a single-price monopoly produce a smaller output and charge more than the price that would prevail if the market were perfectly competitive? A single-price monopoly produces a smaller output and charges more than the price that would prevail if the market were perfectly competitive because O A. the demand curve is downward sloping and a single-price monopoly produces the quantity at which marginal revenue equals marginal cost OB. a single-price monopoly is more efficient than a perfectly competitive market OC. the demand curve in a perfectly competitive industry is horizontal and the demand curve in a monopoly is downward sloping OD. the marginal cost curve in a single-price monopoly is to the left of the supply curve in a perfectly competitive industry Click to select your answer and then click Check Answer. part remaining Clear All esc

Answer 1

C. the demand cure in a perfectly competitive industry is horizontal & the demand cure in a monopoly is downward sloping. - is correct. mo ATC 20 +-- 13