JAMB - Economics (1991 - No. 13)
Comparison of the price and output decisions of a perfectly competitive firm with those of a monopolist shows that the?
monopolist charges a lower price than the perfect competitior
perfect competitior charges a lower price and produces a large output than the monopolist
perfect competitior produces a smaller output than the monopolist
monopolist charges a lower price and produces a larger output than the perfect competitor
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