The broccoli market is perfectly competitive. This means that the price of broccoli is than the price would be if the market was monopolistically competitive, and broccoli output is than if it was monopolistically competitive.

Price is lower than ; Quantity is higher than Monopolistic Competition

Explanation:

Perfect Competition is a market form with many buyers & sellers, selling homogeneous products at constant prices. Having uniform prices, It has perfectly elastic horizontal demand (Average Revenue) curve, ie = Marginal Revenue curve. Equilibrium price is where MR = MC ; So price = MC. This leads to optimal quantity supplied in market

Monopolistically competitive is market form having many sellers, selling slightly differentiated products, at different prices. Their demand curve (AR curve) is usually downward sloping, lies above the MR curve. Market equilibrium quantity is determined at MR = MC. The corresponding price is determine as per higher demand (AR) curve. Price > MC implies less than optimal quantity supplied in markets

Hence : Broccoli would be lower priced & higher supplied in case of perfect competition market, relatively higher priced  & less supplied in case of monopolistic competition market.

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