the competition price? Assume all other things are equal, of course, or a comparison is meaningless :) Also assume no price discrimination - just one price the monopoly can use. Assume normal shaped demand curves (not completely inelastic or elastic)   Question 3 options:   Monopoly price is the same as competition   Monopoly price is usually higher but can also be lower   Monopoly price is higher than competition   Monopoly price is lower than competition

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