If a Market Changes from Perfectly Competitive to Monopolistic,output Will

question 97

True/False

If a market changes from perfectly competitive to monopolistic,output will increase and the price will decrease,ceteris paribus.

---

Definitions:

Economic Institutions

Organizations and structures that shape the production, distribution, and consumption of goods and services within an economy.

Social Institutions

Structures and mechanisms of social order and cooperation governing the behavior of a set of individuals within a given human community.

Ethical Culture

A corporate or organizational environment that promotes ethical behavior among its members through shared values, practices, and leadership.

Organizational Environment

External and internal factors that affect an organization's functioning, including social, economic, and technological influences.