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Which of the following is true for both perfect competition and monopoly? Group of answer choices Individual firms have no ability to control the price

Which of the following is true for both perfect competition and monopoly?

Group of answer choices

Individual firms have no ability to control the price of their output but must accept the market price.

Firms produce a differentiated product.

Firms go out of business in the long run if total revenue cannot cover total cost.

Firms usually earn economic profit in the long run.

Firms cannot earn economic profit in the long run.

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