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What is the difference between monopoly and perfect competition?
Monopoly versus Perfect Competition:
1. Perfect competition is equal to monopoly competition, at the perfectly competitive firm's profit-maximizing quantity of output
2. Perfect competition is greater than to monopoly revenue and equal to monopoly competition, at the monopolist's profit-maximizing quantity of output.
Compared long with a competitive industry, a monopolist does the given below:
Describe ramsey pricing with detailed examples
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Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
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