Monopoly versus Competition
economist j opposed to monopoly since it stands in way of optimum conditions of production and exchange. There is therefore strong support for perfect competition on welfare grounds. It is only under perfect competition that both by qualifying utility to the price and by qualifying marginal bulimics of the carious item the consumers and producers can attain an equilibrium position A consumer will be able to taxi muse his satisfaction by aqualung his magma utilities of purchase. The producer is able to Marius his profit by producing that catapult which marginal cost equals price. The marginal cost pricing which brings about a social optimum is possible only under conditions of perfect competition.
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