The key difference between monopoly and perfect competition is that:

Question

Answer

None of these is correct.

Answer

in monopoly there is freedom of entry
into the market, but in perfect competition there are barriers to entry into
the market.

Answer

in monopoly the goods are
homogeneous, but in perfect competition the goods are differentiated.

Answer

in monopoly there are many buyers but
one seller, but in perfect competition there are many sellers and many buyers.

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