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
No explanation given
Previous question
Next question
What is Exam without Practice? With our customizable CBT practice tests, you’ll be well-prepared and ready to excel in your exams
Start Practicing Now