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

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posted Jul 11 by Prachi

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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 by Mukul Chag
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