Comparison of the price and output decisions of a perfectly competitive firm wit...
Question
Comparison of the price and output decisions of a perfectly competitive firm with those of a monopolist shows that the?Options
A)
monopolist charges a lower price than the perfect competitior
B)
perfect competitior charges a lower price and produces a large output than the monopolist
C)
perfect competitior produces a smaller output than the monopolist
D)
monopolist charges a lower price and produces a larger output than the perfect competitor
Related Lesson: How Perfectly Competitive Firms Make Output Decisions | Perfect Competition
The correct answer is B.
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