The Differences Between a Competitive Market and a Monopoly Include

question 224

Multiple Choice

The differences between a competitive market and a monopoly include all of these except

• A)excess profits would be competed away in a competitive market, but persist in a monopolistic market.
• B)a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise short term prices.
• C)a competitive market's cost curves will shift with the market, while a monopoly's cost curves will remain stable.
• D)a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise long term prices.

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