GDP per capita is

Compared to a perfectly competitive industry, a single-price monopoly produces

A) more output. B) less output. C) the same output. D) some amount that might be more, less, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve. E) some amount that might be more, less, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve.

What is an agreement among members of an oligopoly to set prices and production levels called?

(A) Price leadership. (B) Competition. (C) Imperfect monopoly. (D) Collusion.