Assuming no differences in costs between a monopoly firm and perfectly competitive industry, the latter would be preferred due to:

Name: Assuming no differences in costs between a monopoly firm and perfectly competitive industry, the latter would be preferred due to:
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In a perfectly competitive market, firms are price takers and produce at a level where price equals marginal cost, leading to lower prices and more output compared to a monopoly, which restricts output to raise prices.

Assuming No Differences in Costs Between a Monopoly Firm and Perfectly