These graphs represent the price and output quantities of purses under perfect competition and monopoly. How much more or less will Jackie pay for a purse in a perfect competition than in a monopoly?
A) $20 more
B) $10 less
C) $20 less
D) $40 less

We can see in the graph that in perfect competition, Jackie will pay $30 dollars for five purses, while in monopoly, she will pay $50 dollars for the same quantity of purses, meaning that she will pay $20 less.

This situation shows one key difference between the two market structures: in perfect competition, prices are lower because they are equal to marginal cost, while in monopoly, prices are higher because they are more than the marginal cost.

These graphs represent the price and output quantities of purses under perfect competition and monopoly. How much more or less will Jackie pay for a purse in a perfect competition than in a monopoly? A) $20 more B) $10 less C) $20 less D) $40 less

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These graphs represent the price and output quantities of purses under perfect competition and monopoly. How much more or less will Jackie pay for a purse in a perfect competition than in a monopoly?
A) $20 more
B) $10 less
C) $20 less
D) $40 less