"Unlike a Monopoly, Consumer Surplus in a Perfectly Competitive Market

question 234

Essay

"Unlike a monopoly, consumer surplus in a perfectly competitive market is zero." Do you agree or disagree? Why?

---

Definitions:

Perceptual Styles

Individual differences in the way people perceive, understand, and interpret their sensory experiences.

Environment

The surrounding conditions, influences, or forces which affect the existence and development of an organism or entity.

Sense of Hearing

The ability to perceive sound by detecting vibrations through the ear.

Unilateral

Pertaining to or affecting only one side, or undertaken by only one side of a party or parties involved.