Consider a market where all firm produce an identical good. There is a standard downward sloping demand for the good, and the market price is the price at which the total amount produced is demanded. Each firm faces marginal cost MC(q)=q and per-period fixed-cost $F. Consider 3 different possibilities: monopoly; duopoly; perfect competition. What is the ranking of equilibrium sum of firm profits in a market lasting 1 period? (You should assume that market demand is sufficiently large such firm would be price takers if the market were perfectly competitive.) Group of answer choices monopoly = duopoly > perfect competition monopoly > duopoly > perfect competition monopoly > duopoly perfect competition duopoly > monopoly > perfect competition duopoly > monopoly perfect competition None of the above