Compared to a single- price monopoly, a competitive market with the same costs produces _______ Output and has a _______ price.
A) more; lower
B) more; higher
C) less; higher
D) less; lower

Question

Compared to a single- price monopoly, a competitive market with the same costs produces _______  Output and has a _______ price.
A) more; lower
B) more; higher
C) less; higher
D) less; lower

Quizplus · Accepted Answer

A competitive market typically results in more output and lower prices compared to a single-price monopoly due to increased competition and the absence of market power.

Compared to a Single- Price Monopoly, a Competitive Market with the Same