Which of the following does a monopoly control that a perfectly competitive firm does not control?
A)total production
B)production technology
C)price
D)input usage
E)plant size

Question

Quizplus · Accepted Answer

A monopoly has control over the price because it is the sole supplier in the market, while a perfectly competitive firm cannot control the price as it is determined by the forces of supply and demand. Monopolies do not necessarily control total production, production technology, input usage, or plant size as these factors may be subject to constraints such as resource availability or government regulations.

Which of the Following Does a Monopoly Control That a Perfectly