The Main Difference Between a Monopoly and a Competitive Firm

Multiple Choice

The main difference between a monopoly and a competitive firm is that

A) they have differently-shaped cost curves.
B) a monopoly can change its output, whereas a competitive firm cannot.
C) with a monopoly there is a market demand, whereas with a competitive firm there is only firm demand.
D) a monopoly is not concerned with market price.
E) a monopoly can affect market price, whereas a competitive firm cannot.