Compare competitive price charged and quantity produced
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential?
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You have also agreed to provide an 8-10 page report, in good form, with detailed explanation of your methodology, findings, and recommendations.
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Compare competitive price charged and quantity produced under perfect competition and monopoly. Other than recognizing presence of only one producer under monopoly.
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Does the monopolist get efficiency in its production (that is, does it produce where MR = MC)? Will society face the welfare loss in monopolistic market?
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How might these concerns affect your methodology, and how do you plan on approaching the topic more generally?