Which of the following is the same for monopoly and competition under the same cost and demand conditions?
A)The amount of output that is produced.
B)Economic profits.
C)The goal of maximizing profits.
D)Efficiency of production at the profit-maximizing output.

Question

Quizplus · Accepted Answer

Both monopoly and competitive firms aim to maximize profits, regardless of the market structure or conditions they operate under.

Which of the Following Is the Same for Monopoly and Competition