Comparison of the price and output decisions of a perfectly competitive firm with those of…

Economics JAMB 1991

Comparison of the price and output decisions of a perfectly competitive firm with those of a monopolist shows that the?

  • monopolist charges a lower price than the perfect competitior
  • perfect competitior charges a lower price and produces a large output than the monopolist checkmark
  • perfect competitior produces a smaller output than the monopolist
  • monopolist charges a lower price and produces a larger output than the perfect competitor

The correct answer is: B

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