Which Statement About the Differences Between Monopoly and Perfect Competition

Multiple Choice

Which statement about the differences between monopoly and perfect competition is INCORRECT?

A) A monopolist has market power,while a perfect competitor does not.
B) Unlike a perfectly competitive firm,a monopoly can make positive economic profits in the long run.
C) A monopoly will charge a higher price and produce a smaller quantity than will a competitive market with the same demand and cost structure.
D) Monopoly profits can continue in the long run because the monopoly produces more and charges a higher price than does a comparable perfectly competitive industry.