Relative to a Competitively Organized Industry, a Monopoly Is More

question 59

Multiple Choice

Relative to a competitively organized industry, a monopoly is more likely to produce

• A) more output, charge higher prices, and earn economic profits.
• B) less output, charge lower prices, and earn economic profits.
• C) less output, charge lower prices, and earn only a normal profit.
• D) less output, charge higher price, and earn economic profits.