Relative to the outcome of a perfectly competitive market, a monopoly will result in a lower...

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Relative to the outcome of a perfectly competitive market, a monopoly will result in a lower equilibrium quantity and higher

business economics

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Answer 1

Answer #1

True-

reason- Profit maximising level is at P=MC for firms under perfect competition and MC= MR for firms under monopoly.

A monopolist faces downward sloping demand curve. So a monopolist produces at a level where Quantity is lower and price is higher than the perfectly competitive level.

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Answer 2

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