3. Monopoly creates prices that are ________________ which would exist under perfect comptetion.
a. Lower than that.
b. Equal to that. c.
Greater than that.
d. More volatile than that
Issues in Economics Today (Guell)
Chapter 28 Antitrust
Monopoly is a market structure type in which-
There is a single cell and large number of buyers in the market
Price is only decide by single seller
Long term economic profit is positive
In perfect competition of price is only decided by the market forces that is demand and supply
There are no barriers to entry and exit in perfect competition
So when we talk about the price decisions in monopoly then the prices are more volatile as compared to perfect competition
Answer id option D
3. Monopoly creates prices that are ________________ which would exist under perfect comptetion. a. Lower than...
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