Compared to a single-price monopoly, the output of a perfectly competitive market with the same costs
A) is more than the monopoly's output.
B) is the same as the monopoly's output.
C) is less than the monopoly's output.
D) could be more than, less than, or equal to the monopoly's output.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, firms produce where price equals marginal cost, leading to higher output compared to a monopoly, which restricts output to maximize profits.

Compared to a Single-Price Monopoly, the Output of a Perfectly