A monopolist? Produces a quantity less than its production at the Bertrand competition outcome when there is another competitor with lower costs (when both have constant MC). Produces a quantity greater than its production at the Bertrand competition outcome when there is anothercompetitor with equal marginal costs (when both have constant MC). Produces a quantity that is greater than the competitive outcome. Never makes a positive profit. Produces a quantity that is generally less than the competitive outcome.

Question

Santino Patel

Business

8 September, 22:35

A monopolist? Produces a quantity less than its production at the Bertrand competition outcome when there is another competitor with lower costs (when both have constant MC). Produces a quantity greater than its production at the Bertrand competition outcome when there is anothercompetitor with equal marginal costs (when both have constant MC). Produces a quantity that is greater than the competitive outcome. Never makes a positive profit. Produces a quantity that is generally less than the competitive outcome.

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Areli Fox · Answer 1

Answer:Produces a quantity that is generally less than the competitive outcome

Explanation:

A monopolistic market is a type of market structure where different producers manufacture and sell different items that are not perfect substitute for one another. These products are differentiated with brands and quality, hence each produce is able to maintain a monopoly advantage over its product amidst competition.

They producer set the price and produce quantity that are generally less than the competitive outcome as it has price inelastic demand