Why do monopolistic industries sell less than competitive

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Reference no: EM131826829

Question: Common sense might say that a monopolist would produce more output than a competitive industry facing the same marginal costs. After all, if you're making a profit, you want to sell as much as you can, don't you? What's wrong with this line of reasoning? Why do monopolistic industries sell less than competitive industries?

Reference no: EM131826829

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