Which of the following is correct?

a. In monopoly the total revenue is defined by the price which depends on the quantities minus the quantities produced whereas in a situation of pure and perfect competition the revenue depends on the price and the quantities

b. In monopoly the total revenue is defined by the price which depends on the quantities to which one associates the quantities produced whereas in situation of pure and perfect competition the revenue depends on the price and the quantities

c. In monopoly the total revenue is defined by the price which depends on the quantities plus the quantities produced whereas in a situation of pure and perfect competition the revenue depends on the price and the quantities

b. In monopoly the total revenue is defined by the price which depends on the quantities to which one associates the quantities produced whereas in situation of pure and perfect competition the revenue depends on the price and the quantities

Reason: In a monopoly, the monopolist will always produce the level of output which maximises his profit levels. This is attained at the level where the marginal revenue equals the marginal cost of production, The monopolist sets his price level corresponding to this level of output in the average revenue curve. The quantity produced is the quantity sold in the market by the monopolist. The total revenue is then the quantity produced/ sold multiplied by the price of the good. In the perfect competition, the sellers are the price takers and take the price as given. However they are free to decide the level of output in the market and usually produce at the level where the marginal revenue equals the marginal cost.