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Why is the level of output under monopoly always less than perfect competition even when a monopolist can earn extra normal profits ?
Most Upvoted Answer
Why is the level of output under monopoly always less than perfect com...
Explain about features like abnormal profits of perfect competition, free entry and exit, perfect knowledge and the no. of firms in perfect competition is more and it's only one in monopoly..
Community Answer
Why is the level of output under monopoly always less than perfect com...
Ohk but it doesn't seem correct. you can take railway as a example of monopoly
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Why is the level of output under monopoly always less than perfect competition even when a monopolist can earn extra normal profits ?
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