Answered

Unlike firms in a perfectly competitive industry, monopolists have control over
Select one:
O a.
the quantity of output they produce
O b. improvements in technology
Oc. the prices they pay for resources
O d. the quantities of various resources which are used
the price they charge for the product



Answer :

GinnyAnswer

Final answer:

Monopolists have control over the price they charge in contrast to perfectly competitive firms. They use marginal revenue and marginal cost to determine output and pricing strategies.


Explanation:

Monopolists have control over the price they charge for the product compared to firms in a perfectly competitive industry, where price is determined by market forces. They set prices to maximize profit, choosing a higher price and lesser quantity of output than a price-taking company. Monopolists determine their output by setting marginal revenue equal to marginal cost and selling at a price determined by the demand curve.


Learn more about Monopoly pricing strategies here:

https://brainly.com/question/42742174


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