Compared to a perfectly competitive market, a monopolist will produce and charge a price.
A)less; higher
B)less; lower
C)more; higher
D)more; lower

Name: Compared to a perfectly competitive market, a monopolist will produce and charge a price. A)less; higher B)less; lower C)more; higher D)more; lower
Brand: Quizplus
Rating: 5.0 (38 reviews)

Question

Quizplus · Accepted Answer

A monopolist has market power, meaning they can restrict output and increase price. Therefore, they will produce less and charge a higher price than a perfectly competitive market.

Compared to a Perfectly Competitive Market, a Monopolist Will Produce