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jj88888nb jj88888nb
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6 years ago
Which of the following is a TRUE statement about monopoly and perfect competition?
A) Price is always higher and output higher under monopoly than under perfect competition.
B) Because costs do not depend on market structure, price is usually higher and output is always lower under monopoly than perfect competition.
C) If there are substantial economies of scale, price may be lower and output greater under monopoly than under perfect competition.
D) If there are substantial economies of scale, price may be lower and output greater under monopoly than under perfect competition, and price may be below marginal cost instead of equal to marginal cost.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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annabananerzannabananerz
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6 years ago
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jj88888nb Author
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6 years ago
Helps a lot... Now I'm ready for my quiz
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