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assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.

assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.
Transcribed Image Text:assuming that average costs are the same in both circumstances, all of the following statements except one are true regarding the long-run comparison between monopoly and perfect competition. which is the exception? a) the monopoly price will be higher than the competitive price. b) the monopoly produces below capacity whereas the competitive from produces at capacity output. c) the monopoly may be making economic profits whereas the competitive firm will not. d) the monopoly quantity will be lower than the competitive quantity.
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