One major difference between monopoly and perfect competition is that?

  • A the perfect competitor is a price taker while the monopolist determines his own output
  • B homogeneity of purpose exists for the perfect competitor while non-homogeneity of purpose exist for the monopolist
  • C sellers are located all over the world in the perfect competition but sellers are only in one country in the case of the monopolist
  • D there is free entry and exist in perfect competition but no free exist in monopoly

The correct answer is A. the perfect competitor is a price taker while the monopolist determines his own output

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