Which of the following models results in the greatest total profit,assuming a fixed number of firms with identical costs and a given demand curve?

Question

Quizplus · Accepted Answer

In a monopoly, there is only one firm dominating the market, allowing them to charge higher prices to maximize their profits. In the other models, there is competition among firms, which drives prices down and leads to lower profits. Therefore, a monopoly results in the greatest total profit.

Which of the Following Models Results in the Greatest Total