QUESTION 17 Consider a monopoly, where the demand curve is given by P = 25 -Q, MR - 25- 2Q. TC =Q, and MC = 1. Compared to the efficient solution, this monopolist outome Has a higher price and lower output than the perfectly competitive solution. Has a lower price and lower output than the perfectly competitive solution. Has the same price but lower output than the perfectly competitive solution. Has a higher price but the same output than the perfectly competitive solution. QUESTION 18