Suppose a monopolist and a perfectly competitive firm have the ...

[Lisaclaire]

Suppose a monopolist and a perfectly competitive firm have the same cost curves. The monopolistic firm would:
 a. charge a lower price than the perfectly competitive firm.
  b. charge a higher price than the perfectly competitive firm.
  c. charge the same price as the perfectly competitive firm.
  d. refuse to operate in the short run unless an economic profit could be made.
  e. refuse to operate in the short run if an economic loss was present.

Question 2

Water is plentiful in most of the world, so its price and total utility are low.
 a. True
  b. False
  Indicate whether the statement is true or false

[pikon]

Answer to Question 1

b

Answer to Question 2

False

[Lisaclaire]

TYSM

[gcook]

Excellent