If a competitive market becomes a monopoly, _____, other things unchanged.
A) the price in the market will be higher
B) the number of buyers in the market will increase
C) the equilibrium quantity of output will increase
D) the level of e?ciency in the market will increase

Question

Quizplus · Accepted Answer

When a competitive market becomes a monopoly, the single seller can exert control over the price, typically leading to higher prices than in a competitive market where prices are driven down by competition among multiple sellers.

If a Competitive Market Becomes a Monopoly, _____, Other Things