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The main difference between a monopoly and a perfectly competitive firm is that A) a perfectly competitive firm creates deadweight loss, while a monopoly does
The main difference between a monopoly and a perfectly competitive firm is that
A) a perfectly competitive firm creates deadweight loss, while a monopoly does not.
B) their cost curves are shaped differently.
C) a monopoly produces where P = MC, while a competitive firm produces where MR = MC.
D) perfectly competitive firms can change their levels of output, while monopolies cannot.
E) a monopoly is considered a price maker and a perfectly competitive firm is considered a price taker.
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