Author Question: Compared to a single-price monopoly, the price charged by a perfectly competitive market with the ... (Read 82 times)

Anajune7 · **on:** Jun 29, 2018

Compared to a single-price monopoly, the price charged by a perfectly competitive market with the same costs

A) is higher than the monopoly's price.
B) is the same as the monopoly's price.
C) is lower than the monopoly's price.
D) could be higher than, lower than, or the same as the monopoly's price.

Question 2

If as output increases average product increases, then ________.

A) average total cost decreases
B) average fixed cost decreases
C) marginal cost decreases
D) average variable cost decreases