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Which of the following are true about monopolies? Select all that apply. O Monopolies maximize profits where MR = MC. O Monopolies will charge a

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Which of the following are true about monopolies? Select all that apply. O Monopolies maximize profits where MR = MC. O Monopolies will charge a higher price than is socially optimal. O Monopolies will produce a lower quantity than is socially optimal. O Monopolies are inefficient (they create deadweight loss). O Monopolies face free entry and exit in the market in the long run

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