How can a firm gain by reducing competition

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Reference no: EM1372162

Q. Firms wanted to increase output in order to spread fixed costs and lower average costs, but they also had to sell output 17. Use a single graph to illustrate and compare output and price within (1) a perfectly competitive market and (2) a monopoly market. Price higher in monopoly market. Bigger quantity in perfect competition. How can a firm gain by reducing competition?

Reference no: EM1372162

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