Firms wanted to increase output in order to spread the fixed costs and lower average costs, BUT they also had to sell the output 17.

Firms wanted to increase output in order to spread the fixed costs and lower average costs, BUT they also had to sell the output 17. Use a single graph to illustrate and compare output and price within (1) a perfectly competitive market, and (2) a monopoly market. Price higher in monopoly market. Bigger quantity in perfect competition. How can a firm gain by reducing competition?