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Monopolies Differ from Perfectly Competitive Firms in the Long Run

Question 163

Multiple Choice

Monopolies differ from perfectly competitive firms in the long run because


A) perfectly competitive firms can earn economic profit
B) monopolies can earn economic profit
C) monopolies produce a smaller share of the industry output
D) patents and copyright laws protect monopolists for as long as they desire
E) monopolists have long-run average cost curves

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