Compare perfect competition of monopoly? – InterviewSolution

InterviewSolution

1.	Compare perfect competition of monopoly?
Answer» In a perfectly competitive market, price equals marginal cost and FIRMS earn an economic profit of ZERO. In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. PERFECT competition produces an equilibrium in which the price and quantity of a good is ECONOMICALLY efficient.Explanation:PLZ MARK ME AS BRAINLIEST

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