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Introduction to Economics 1
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi Monopoly and Imperfect Competition soru cevapları
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi Monopoly and Imperfect Competition soru detayı:
SORU:
What is the difference between a perfectly competitive market and a monopoly?
CEVAP:
Compared to a perfectly competitive market, a monopoly produces less than
the socially efficient quantity of output and charges a relatively higher price, hence creates a deadweight loss.