If a perfectly competitive industry is taken over by a monopolist,the market price will rise
A)due to improvements in technology
B)assuming that technology is unchanged
C)and output will rise
D)unless barriers to entry are imposed
E)until they equal marginal revenue

Question

Quizplus · Accepted Answer

In a monopoly, the firm has market power and can set prices above marginal cost, leading to higher prices compared to a perfectly competitive market, assuming technology remains unchanged.

If a Perfectly Competitive Industry Is Taken Over by a Monopolist,the