Compared to a monopoly market,a perfectly competitive market will produce more output at a higher price.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are many firms competing against each other, leading to lower prices and higher output. In a monopoly market, there is only one firm controlling the market, leading to higher prices and lower output. Therefore, a perfectly competitive market will produce more output at a lower price, not a higher price as stated in the question.

Compared to a Monopoly Market,a Perfectly Competitive Market Will Produce