Explain why a monopolist must lower its quantity relative to a perfectly competitive market to maximize profits. Make sure to elaborate use examples.© BrainMass Inc. brainmass.com October 9, 2019, 8:05 pm ad1c9bdddf
A monopolist tends to create artificial scarcity in the market so that he can sell his product at a higher price to generate more revenue. This is why a monopolist lowers the quantity supplied to the market in order to maximize his profits. This can be achieved in a ...
A monopolist is exemplified.