How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?

A. The price is higher.

B. The price is lower.

C. The prices cannot be compared.

D. The prices are the same.

Question

How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market?

A. The price is higher.	

B. The price is lower.	

C. The prices cannot be compared.	

D. The prices are the same.

anonymous · Answer

the price is higher since if its a monopoly only one person is selling the product and they can set it up to whatever price they want