A single- price monopolist produces a _______ quantity than a competitive market with the same costs and charges a _______ price than the competitive market.
A) greater; lower
B) greater; higher
C) lesser; higher
D) lesser; lower

Question

Quizplus · Accepted Answer

A single-price monopolist produces a lesser quantity and charges a higher price than a competitive market to maximize profits, leading to reduced output and increased prices compared to perfect competition.

A Single- Price Monopolist Produces a _______ Quantity Than a Competitive