Multiple Choice
For the same demand and cost conditions,which of the following is true?
A) Consumer surplus and producer surplus are both lesser in a monopoly market compared to perfect competition.
B) Consumer surplus is lesser but producer surplus is greater in a monopoly market compared to perfect competition.
C) Consumer surplus is greater and producer surplus is lesser in a monopoly market compared to perfect competition.
D) Consumer surplus and producer surplus are both greater in perfect competition than in a monopoly.
Correct Answer:

Verified
Correct Answer:
Verified
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