Consumer surplus is smaller, is true of a monopoly as compared to a perfectly competitive market with the same costs. Hence the answer is option (a), I only.
A single company controls the amount of supply and the price of goods and services in a monopolistic market. There are many enterprises participating in a highly competitive market, and there is no dominant player. No market in the actual world is entirely monopolistic or completely competitive.
There will only be one seller if perfectly competitive markets are converted into monopolies. The monopolist will be in a position to take advantage of the public. Customers won't have any other choices for making purchases of goods and services. In that both types of markets have numerous consumers and sellers, monopolistic competition is similar to perfect competition in this regard.
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