Ayushi Asked a Question
August 11, 2020 12:22 pmpts 30 pts
Given that cost conditions are same, in monopoly price is and output is as compared to perfect competition. (1) higher, same (2) same, lower (3) higher, lower (4) lower, higher
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  • Nidhi taparia Best Answer
    The correct answer is (3). Given equivalent cost conditions, equilibrium price is higher and equilibrium output lower in the case of monopoly as compared to perfect competition. ...
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