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The difference between the LONG-RUN outcomes in a perfectly competitive market and a monopoly market is that Select an answer and submit. For keyboard navigation,
The difference between the LONG-RUN outcomes in a perfectly competitive market and a monopoly market is that
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a Firms in perfect competition produce at minimum cost, while a monopolist may not.
b Firms in perfect competition earn zero profits, while a monopolist may earn positive profits..
c Firms in perfect competition produce where price equals marginal cost, while a monopolist charges a price above marginal cost.
d All of the above.
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