Choose the statement that best compares the long-run equilibrium of a competitive industry and that in a monopolized industry.

A.Resources will be allocated efficiently in both the competitive and monopolized industries.

B.Allocative efficiency will be achieved in the monopolized, but not the competitive industry.

C.Allocative efficiency will be achieved in the competitive, but not the monopolized industry.

D.It is not possible to make this comparison because firms in a competitive industry operate only in the short run.

E.Allocative efficiency is not possible in either industry.