Question

• In a monopoly the monopolist
always puts a price
Answer
A.Equals to marginal cost
B. in excess of the marginal cost
c. Less than the marginal cost
D. O equals to Fixed cost​

Answer 1

Explanation:

Equals To Marginal Cost

Answer 2

Answer:

Explanation:

Monopolies, as opposed to perfectly competitive markets, have high barriers to entry and a single producer that acts as a price maker.

LEARNING OBJECTIVES

Distinguish between monopolies and competitive firms

KEY TAKEAWAYS

Key Points

In a perfectly competitive market, there are many producers and consumers, no barriers to exit and entry into the market, perfectly homog.nous goods, perfect information, and well-defined property rights.

Perfectly competitive producers are price takers that can choose how much to produce, but not the price at which they can sell their output.

A monopoly exists when there is only one producer and many consumers.

Monopolies are characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.

Key Terms