Assertion: monopoly | /r/CapableOf | lead than does perfect competition
Facets:
value: given identical cost and demand conditions
type: CAUSE
value: to a higher price
type: PURPOSE
value: to lower output
type: PURPOSE
Source sentences:
text: Market theory predicts that, given identical cost and demand conditions, monopoly leads to a higher price and lower output than does perfect competition and thus may be considered to be a form of MARKET FAILURE.