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AP® Microeconomics

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Monopoly Price and Output vs. Perfect Competition

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As compared to a perfectly-competitive industry with the same costs, the equilibrium price for a monopoly would be

A

lower, and its output would be higher.

B

lower, and its output would be lower.

C

higher, and its output would be lower.

D

higher, and its output would be higher.

E

higher, but its output would be the same.