Question: How does the quantity produced and price charged by a monopolist compare to that of a perfectly competitive firm? None of the choices are correct

How does the quantity produced and price charged by a monopolist compare to that of a perfectly competitive firm?

None of the choices are correct

The monopolist will charge the same prices and produce the same output as a perfectly competitive firm.

The monopolist will charge lower prices and produce more output than a perfectly competitive firm.

The monopolist will charge higher prices and produce less output than a perfectly competitive firm.

The monopolist will charge higher prices and produce more output than a perfectly competitive firm.

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