Question

. As a manager, would you prefer your business to be in a monopoly position or a perfectly competitive market? Why? Support your views with examples. (In a written text please, not a pic)

Answer 1

As a manager, I would prefer my business to be in a monopoly position market because my profits will maximise in such a position. There is no entry and exit of firms in such a market, therefore, the business would not have to face any competition. On the other hand, in a perfectly competitive market, there are no barriers to entry and exit therefore, the business would have to face high amount of competition. For example, Amazon is a near monopoly earning very high profits.