Ayushi Asked a Question
August 12, 2020 8:33 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 - (1)i, HA (2) HHTF, T (3), i (4) t, Oligopoly is a market situation, where (1) there are few firms producing close substitutes (2) there are few firms producing entirely different goods (3) there are few firms producing complementary goods (4) there are two or more monopolistic firms 13 (P.T.C
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  • Nidhi taparia Best Answer
    For the first question, the correct answer is (3). Given equivalent cost conditions, equilibrium price is higher and equilibrium output lower in the case of monopoly as compared t...
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