In Principle,a Comparison of the Long-Run Equilibrium of Competitive and (Single-Price)monopoly

Multiple Choice

In principle,a comparison of the long-run equilibrium of competitive and (single-price) monopoly industries leads to the following conclusion:

A) both the competitive industry and the monopoly will allocate resources efficiently.
B) the competitive industry is consistent with allocative efficiency whereas the monopoly is not.
C) neither industry is capable of allocative efficiency.
D) the competitive industry will achieve productive efficiency but the monopoly will not.
E) both the competitive industry and the monopoly will allocate resources inefficiently.