In monopoly and perfect competition the cost curves are ........

Economics- Phase (I & II) Demand and Supply , Market Structures

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In monopoly and perfect competition, the cost curves are

Same

Different

Opposite

None of the above

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Explanation:

In monopoly and perfect competition, the cost curves are same. In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. Perfect competition produces an equilibrium in which the price and quantity of a good is economically efficient.