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Why is a Monopoly markets undesirable relative to perfect competitive market discuss?

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Why is a Monopoly markets undesirable relative to perfect competitive market discuss?
posted Jul 11, 2017 by Prachi

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1 Answer

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In Monopoly, there is no market power as the monopoly firm is the only supplier and holds pricing power. However in a perfect competitive market, prices are set by interaction of supply and demand. This is why monopoly markets are undesirable relative to perfect competitive market.

answer Jul 12, 2017 by Mukul Chag
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