Which of the Following Statements Describes a Major Difference Between

Multiple Choice

Which of the following statements describes a major difference between monopoly and perfect competition?

A) Perfectly competitive firms cannot maintain positive economic profits in the long run,whereas monopolists can.
B) Monopolists do not consider consumer demand when choosing price and output levels.
C) Monopolistic firms tend to maximize revenue while perfectly competitive firms maximize profit.
D) Monopolistic firms emphasize cost minimization whereas perfectly competitive firms emphasize profit maximization.
E) Perfectly competitive firms can never earn economic profits; monopolistic firms always earn economic profits.