Question

1 Point

What is a basic difference between pure competition and monopolies?
O
A. The number of buyers
O
B. The amount of taxes paid
O
C. The number of producers
O D. The amount of goods produced

Answer 1

A. The number of producer

Pure competition has multiple sellers/producers of a good in the market. There are choices.

A monopoly is a single seller and there are no other options for the consumer/buyer does not have a choice or option