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

Question

Quizplus · Accepted Answer

Since a monopolist has control over the entire market, they are able to set prices higher than the competitive equilibrium price. This leads to a lower quantity being produced and higher prices for consumers.

The Monopolist's Outcome Happens at A