Compared to a Similar Perfectly Competitive Industry, a Single-Price Monopoly

Multiple Choice

Compared to a similar perfectly competitive industry, a single-price monopoly

A) sets a lower price because there is less competition.
B) creates a deadweight loss and decreases consumer surplus.
C) produces more output.
D) creates a deadweight loss and decreases economic profit.
E) is more efficient because there is no wasteful competition.