Question

Relative to a perfectly competitive market, a monopoly results in.

Answer 1

Answer:

Formation of Monopoly shows that theres is only one supplier in the market with many buyers, this results in outcome of many catels

Answer 2

Relative to a perfectly competitive market, a monopoly results in a gain in producer surplus equal to the gain in consumer surplus.

What happens when a perfectly competitive market becomes a monopoly?

If a perfectly competitive industry becomes a monopoly, then we know that the industry supply curve becomes the monopoly.

Does a monopoly reduce economic efficiency?

Yes, it does, because it causes a deadweight loss. If a perfectly competitive industry turns into a monopoly, then consumer surplus will.

Learn more about monopoly here: brainly.com/question/2043744

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