Compared to perfect competition

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Reference no: EM131011926

Compared to perfect competition:
A. monopoly produces more at a lower price.
B. monopoly produces where MR > MC, and a perfectly competitively firm produces where P = MC.
C. monopoly may have economic profits in the long run, but in perfect competition in the long run economic profits are zero.
D. perfect competition may have economic profits in the long run, but in monopoly the long run economic profits are zero.

Reference no: EM131011926

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