Respuesta :
Answer:
Explanation:
a. Monopoly has no competition so it can charge a higher price and produce less quantity when compared to a perfectly competition. Â For a consumer, perfectly competition which provides more goods at a lower price is better.
b. Due to lack of competition, monopoly does not have to be efficient in its resource allocation. Â To increase the allocative efficiency, the government can pass regulation to limit price charged and increase quantities of goods produced by the monopoly.
Answer:
Explanation:
compared 2 perfectly competitive firms, monopoly charges higher price and produces less quantity.
perfectly competitive firms are better for consumer
govt regulation can increase monopoly's efficiency by putting restriction on price n requiring quantity of goods produced.
