The monopolist's outcome happens at a:
A) lower quantity than the perfectly competitive one.
B) lower price than the perfectly competitive one.
C) higher quantity than the perfectly competitive one.
D) cost that is equal to a perfectly competitive one.

Question

Quizplus · Accepted Answer

A monopolist has the ability to set a higher price and produce a lower quantity than a perfectly competitive market, resulting in a market outcome that is less efficient. Therefore, the monopolist's outcome happens at a lower quantity than the perfectly competitive one.

The Monopolist's Outcome Happens at A